Illinois contemplates permanent R&D tax credit for ethanol, biodiesel

In Illinois, General Assembly Bill HB 3811, which is being cosponsored by Representatives Paul Evans and Dwight Kay, is calling for: reinstating the net Operating Loss deduction by extending the carry forward to 20 years, extending the life of enterprise zones by as much as 20 years, reducing the costs of establishing limited liability corporations in the state, increasing the estate tax exemption to $5 million, and adding both ethanol and biodiesel research and development to a permanently re-enacted Illinois Research & Development tax credit.  It is reported that if enacted, the state could expect $492 million in increased revenues.