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IL HB4513

Bill

Official Source

Status

Introduced

1/21/2026

Primary Sponsor

Rita Mayfield

Click for details

Origin

House of Representatives

104th General Assembly

AI Summary

  • Amends the Illinois Income Tax Act (35 ILCS 5/201) to make the state research and development tax credit permanent, removing any existing expiration date.

  • Introduced by Rep. Rita Mayfield during the 104th General Assembly (2025-2026 session).

  • The bill takes effect immediately upon becoming law.

  • Currently, the R&D credit has been subject to periodic renewal; this change would eliminate the need for future legislative extensions.

Legislative Description

INC TX-R AND D CREDIT

Last Action

To Tax Policy: Other Taxes Subcommittee

2/26/2026

Committee Referrals

Tax Policy: Other Taxes2/26/2026
Revenue & Finance2/11/2026
Rules1/26/2026

Full Bill Text

No bill text available