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HB 4513

INC TX-R AND D CREDIT

104th Regular Session Introduced by Rita Mayfield

Illinois bill increases the state's research and development tax credit to attract innovation investment and companies to the state.

Referred to Rules Committee
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Bill Summary · HB 4513

Legislative bill overview

HB 4513 proposes to increase the Illinois Research and Development (R&D) tax credit. The bill aims to make the state's R&D tax incentive more generous, likely by raising the credit percentage or expanding eligible activities to encourage greater business investment in research and development within Illinois.

Why is this important

R&D tax credits directly affect business decisions about where to locate research facilities and conduct innovation work. Increasing the credit makes Illinois more competitive for attracting high-value companies in technology, biotech, and advanced manufacturing sectors, potentially creating skilled jobs and economic growth.

Potential points of contention

  • Fiscal impact: Expanding tax credits reduces state revenue; critics may question whether the economic benefits justify the cost and whether the state can afford it during budget constraints
  • Effectiveness concerns: Evidence on whether R&D credits actually drive new research or simply subsidize activities companies would conduct anyway is mixed across studies
  • Distributional fairness: Larger companies and well-established industries may benefit disproportionately, raising equity questions about whether this favors certain sectors over others

Compiled from official sources — confirm details with the bill’s official record.

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