IL HB5214 | 2017-2018 | 100th General Assembly

Status

Completed Legislative Action
Spectrum: Moderate Partisan Bill (Democrat 12-3)
Status: Passed on August 3 2018 - 100% progression
Action: 2018-08-03 - Public Act . . . . . . . . . 100-0686
Text: Latest bill text (Chaptered) [HTML]

Summary

Amends the Illinois Income Tax Act. Changes the definition of "applicant" and "related member". Provides that the annual allowable amounts shall be allocated by the Department of Commerce and Economic Opportunity if any portion of the unused allocated amount at the end of the first 3 calendar quarters of a calendar year (rather than 2 calendar quarters) are rolled into the total allocated amount for the next calendar quarter. Provides that the annual allowable amounts shall be allocated by the Department if tax credits for investments in minority-owned businesses, women-owned businesses, businesses owned by a person with a disability, or a business in a county with a population of 250,000 or less are limited to the first 3 calendar quarters of a calendar year and after which investors may claim the tax credits of any qualified new business venture.

Tracking Information

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Title

INCOME TAX-ANGEL INVEST CREDIT

Sponsors


Roll Calls

2018-05-21 - Senate - Third Reading in Senate (Y: 46 N: 0 NV: 13 Abs: 0) [PASS]
2018-04-19 - House - Third Reading in House (Y: 110 N: 0 NV: 3 Abs: 3) [PASS]

History

DateChamberAction
2018-08-03HousePublic Act . . . . . . . . . 100-0686
2018-08-03HouseEffective Date January 1, 2019
2018-08-03HouseGovernor Approved
2018-06-19HouseSent to the Governor
2018-05-21HousePassed Both Houses
2018-05-21SenateThird Reading - Passed; 046-000-000
2018-05-21SenateAdded as Alternate Co-Sponsor Sen. Julie A. Morrison
2018-05-21SenateAdded as Alternate Chief Co-Sponsor Sen. Melinda Bush
2018-05-15SenatePlaced on Calendar Order of 3rd Reading May 16, 2018
2018-05-15SenateSecond Reading
2018-05-10SenatePlaced on Calendar Order of 2nd Reading May 15, 2018
2018-05-10SenateDo Pass Revenue; 005-000-000
2018-05-02SenateAssigned to Revenue
2018-05-01SenateReferred to Assignments
2018-05-01SenateFirst Reading
2018-05-01SenateChief Senate Sponsor Sen. Elgie R. Sims, Jr.
2018-04-23SenatePlaced on Calendar Order of First Reading April 24, 2018
2018-04-23SenateArrive in Senate
2018-04-19HouseThird Reading - Short Debate - Passed 110-000-000
2018-04-18HouseAdded Chief Co-Sponsor Rep. Jerry Costello, II
2018-04-18HouseAdded Chief Co-Sponsor Rep. Robert W. Pritchard
2018-04-18HouseAdded Chief Co-Sponsor Rep. Sam Yingling
2018-04-18HouseAdded Chief Co-Sponsor Rep. Grant Wehrli
2018-04-18HouseRemoved Co-Sponsor Rep. Jerry Costello, II
2018-04-18HouseRemoved Co-Sponsor Rep. Robert W. Pritchard
2018-04-18HouseRemoved Co-Sponsor Rep. Sam Yingling
2018-04-18HouseRemoved Co-Sponsor Rep. Grant Wehrli
2018-04-18HousePlaced on Calendar Order of 3rd Reading - Short Debate
2018-04-18HouseSecond Reading - Short Debate
2018-04-13HousePlaced on Calendar 2nd Reading - Short Debate
2018-04-11HouseDo Pass / Short Debate Revenue & Finance Committee; 009-000-000
2018-04-11HouseAdded Co-Sponsor Rep. Silvana Tabares
2018-04-11HouseAdded Co-Sponsor Rep. Sonya M. Harper
2018-04-11HouseAdded Co-Sponsor Rep. Kathleen Willis
2018-04-11HouseAdded Co-Sponsor Rep. Natalie A. Manley
2018-04-11HouseAdded Co-Sponsor Rep. Jaime M. Andrade, Jr.
2018-04-09HouseAdded Co-Sponsor Rep. Jerry Costello, II
2018-04-06HouseAdded Co-Sponsor Rep. Lawrence Walsh, Jr.
2018-04-06HouseAdded Co-Sponsor Rep. Avery Bourne
2018-04-06HouseAdded Co-Sponsor Rep. Grant Wehrli
2018-04-06HouseAdded Co-Sponsor Rep. Robert W. Pritchard
2018-04-05HouseAdded Co-Sponsor Rep. Sam Yingling
2018-03-05HouseAssigned to Revenue & Finance Committee
2018-02-16HouseReferred to Rules Committee
2018-02-16HouseFirst Reading
2018-02-15HouseFiled with the Clerk by Rep. Carol Sente

Code Citations

ChapterArticleSectionCitation TypeStatute Text
355220Amended CodeCitation Text

Illinois State Sources


Bill Comments

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