<?xml version='1.0' encoding='UTF-8'?>
<xml>
<title>Illinois General Assembly - Bill Status for SB 2523   </title>
<shortdesc>INC TX-EXTEND R AND D</shortdesc>
<sponsor>
<sponsorhead1>Senate Sponsors</sponsorhead1><sponsors>Sen. Kyle McCarter</sponsors>
</sponsor>
<lastaction>
<statusdate>1/8/2013</statusdate><chamber>Senate</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>20 ILCS 655/5.3</reference><aliasreference>from Ch. 67 1/2, par. 608</aliasreference><reference>35 ILCS 5/201</reference><aliasreference>from Ch. 120, par. 2-201</aliasreference><reference>35 ILCS 120/1f</reference><aliasreference>from Ch. 120, par. 440f</aliasreference><reference>220 ILCS 5/9-222.1</reference><aliasreference>from Ch. 111 2/3, par. 9-222.1</aliasreference><SynopsisText>Amends the Illinois Income Tax Act. Provides that the research and development credit applies for taxable years ending on or after December 31, 2004, and ending prior to January 1, 2016 (now, January 1, 2011). Provides that the credit may not be carried forward to any taxable year ending on or after January 1, 2016. Amends the Illinois Enterprise Zone Act. Provides that enterprise zones shall be in effect for 35 (instead of 30) calendar years, or for a lesser number of years specified in the certified designating ordinance. Amends the Retailers' Occupation Tax Act and the Public Utilities Act to make conforming changes. Further amends the Public Utilities Act to provide that a business that is primarily engaged in manufacturing is exempt from the additional charges added to its utility bills as a pass-on of State utility taxes. Effective immediately.</SynopsisText></synopsis>
<actions>
<statusdate>11/8/2011</statusdate><chamber>Senate</chamber><action>Filed with Secretary by Sen. Kyle McCarter</action>
<statusdate>11/8/2011</statusdate><chamber>Senate</chamber><action>First Reading</action>
<statusdate>11/8/2011</statusdate><chamber>Senate</chamber><action>Referred to Assignments</action>
<statusdate>1/31/2012</statusdate><chamber>Senate</chamber><action>Assigned to Revenue</action>
<statusdate>3/1/2012</statusdate><chamber>Senate</chamber><action>To Revenue Subcommittee on Tax Credits</action>
<statusdate>3/9/2012</statusdate><chamber>Senate</chamber><action>Rule 2-10 Committee Deadline Established As March 30, 2012</action>
<statusdate>3/30/2012</statusdate><chamber>Senate</chamber><action>Rule 3-9(a) / Re-referred to Assignments</action>
<statusdate>1/8/2013</statusdate><chamber>Senate</chamber><action>Session Sine Die</action>
</actions>
</xml>

