INC TAX-R AND D CREDIT

Summary

The bill changes how the research and development credit is calculated, allowing taxpayers to claim the credit when their in‑state R&D expenditures increase by more than 50% of the base period, instead of the current 100% threshold. It applies to individuals, corporations, trusts and estates that file Illinois income taxes and claim the credit. The change takes effect immediately.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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