Senate Sponsors: WATSON. House Sponsors: STEPHENS-HOFFMAN-HOLBROOK Short description: INC TAX-RESEARCH & DEV CREDIT Synopsis of Bill as introduced: Amends the Illinois Income Tax Act. Provides that the research credit shall be for research activities in this State (now, only for the increase from previous years in research activities in this State). Defines "qualifying expenditures" as qualified research expenses, as defined in the Internal Revenue Code, if the research activities are conducted by an entity that has its primary office in this State. Provides that "qualifying expenditures" include intellectual property development and protection expenditures in the United States and foreign countries incurred for the purpose of protecting the results of research activities. Changes the sunset date of the credit from December 31, 2004 to December 31, 2014. Effective January 1, 2001. SENATE AMENDMENT NO. 1. Removes all of the amendatory changes in the introduced bill except the extension of the sunset date from December 31, 2004 to December 31, 2014. SENATE AMENDMENT NO. 3. Changes the sunset of the credit from December 31, 2014 to December 31, 2010. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 2 END OF INQUIRY Full Text Bill Status