IL HB3527 | 2017-2018 | 100th General Assembly
Status
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]
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]
Summary
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.
Title
INC TAX-ANGEL INVESTMNT CREDIT
Sponsors
History
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 |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
35 | 5 | 220 | Amended Code | Citation Text |