Illinois House Bill 3527 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Income Tax Act. Provides that aggregate amount of angel investment tax credits that may be claimed for qualified new business ventures is increased to $25,000,000 (from $10,000,000) per calendar year, of which $2,500,000 is reserved for investments in minority owned businesses, female owned businesses, or businesses owned by a person with a disability, and $2,500,000 is reserved for investments made in businesses headquartered in counties with a population of not more than 250,000. Defines "minority owned business", "female owned business", and "business owned by a person with a disability". Extends the angel investment tax credit to December 31, 2021 (now December 31, 2016). Effective immediately.

INC TAX-ANGEL INVESTMNT CREDIT

Rep. Grant Wehrli [R]

Date	Chamber	Action
2019-01-08	House	Session Sine Die
2017-03-31	House	House Committee Amendment No. 1 Rule 19(a) / Re-referred to Rules Committee
2017-03-31	House	Rule 19(a) / Re-referred to Rules Committee
2017-03-27	House	House Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
2017-03-24	House	House Committee Amendment No. 1 Referred to Rules Committee
2017-03-24	House	House Committee Amendment No. 1 Filed with Clerk by Rep. Grant Wehrli
2017-03-09	House	To Growth, Reform & Fairness Subcommittee
2017-02-22	House	Assigned to Revenue & Finance Committee
2017-02-10	House	Referred to Rules Committee
2017-02-10	House	First Reading
2017-02-10	House	Filed with the Clerk by Rep. Grant Wehrli

Chapter	Article	Section	Citation Type	Statute Text
35	5	220	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3527&GAID=14&DocTypeID=HB&SessionID=91&GA=100
Text	https://www.ilga.gov/legislation/100/HB/10000HB3527.htm
Amendment	https://www.ilga.gov/legislation/100/HB/10000HB3527ham001.htm