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]
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.
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]
2018-04-19 - House - Third Reading in House (Y: 110 N: 0 NV: 3 Abs: 3) [PASS]
History
Date | Chamber | Action |
---|---|---|
2018-08-03 | House | Public Act . . . . . . . . . 100-0686 |
2018-08-03 | House | Effective Date January 1, 2019 |
2018-08-03 | House | Governor Approved |
2018-06-19 | House | Sent to the Governor |
2018-05-21 | House | Passed Both Houses |
2018-05-21 | Senate | Third Reading - Passed; 046-000-000 |
2018-05-21 | Senate | Added as Alternate Co-Sponsor Sen. Julie A. Morrison |
2018-05-21 | Senate | Added as Alternate Chief Co-Sponsor Sen. Melinda Bush |
2018-05-15 | Senate | Placed on Calendar Order of 3rd Reading May 16, 2018 |
2018-05-15 | Senate | Second Reading |
2018-05-10 | Senate | Placed on Calendar Order of 2nd Reading May 15, 2018 |
2018-05-10 | Senate | Do Pass Revenue; 005-000-000 |
2018-05-02 | Senate | Assigned to Revenue |
2018-05-01 | Senate | Referred to Assignments |
2018-05-01 | Senate | First Reading |
2018-05-01 | Senate | Chief Senate Sponsor Sen. Elgie R. Sims, Jr. |
2018-04-23 | Senate | Placed on Calendar Order of First Reading April 24, 2018 |
2018-04-23 | Senate | Arrive in Senate |
2018-04-19 | House | Third Reading - Short Debate - Passed 110-000-000 |
2018-04-18 | House | Added Chief Co-Sponsor Rep. Jerry Costello, II |
2018-04-18 | House | Added Chief Co-Sponsor Rep. Robert W. Pritchard |
2018-04-18 | House | Added Chief Co-Sponsor Rep. Sam Yingling |
2018-04-18 | House | Added Chief Co-Sponsor Rep. Grant Wehrli |
2018-04-18 | House | Removed Co-Sponsor Rep. Jerry Costello, II |
2018-04-18 | House | Removed Co-Sponsor Rep. Robert W. Pritchard |
2018-04-18 | House | Removed Co-Sponsor Rep. Sam Yingling |
2018-04-18 | House | Removed Co-Sponsor Rep. Grant Wehrli |
2018-04-18 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
2018-04-18 | House | Second Reading - Short Debate |
2018-04-13 | House | Placed on Calendar 2nd Reading - Short Debate |
2018-04-11 | House | Do Pass / Short Debate Revenue & Finance Committee; 009-000-000 |
2018-04-11 | House | Added Co-Sponsor Rep. Silvana Tabares |
2018-04-11 | House | Added Co-Sponsor Rep. Sonya M. Harper |
2018-04-11 | House | Added Co-Sponsor Rep. Kathleen Willis |
2018-04-11 | House | Added Co-Sponsor Rep. Natalie A. Manley |
2018-04-11 | House | Added Co-Sponsor Rep. Jaime M. Andrade, Jr. |
2018-04-09 | House | Added Co-Sponsor Rep. Jerry Costello, II |
2018-04-06 | House | Added Co-Sponsor Rep. Lawrence Walsh, Jr. |
2018-04-06 | House | Added Co-Sponsor Rep. Avery Bourne |
2018-04-06 | House | Added Co-Sponsor Rep. Grant Wehrli |
2018-04-06 | House | Added Co-Sponsor Rep. Robert W. Pritchard |
2018-04-05 | House | Added Co-Sponsor Rep. Sam Yingling |
2018-03-05 | House | Assigned to Revenue & Finance Committee |
2018-02-16 | House | Referred to Rules Committee |
2018-02-16 | House | First Reading |
2018-02-15 | House | Filed with the Clerk by Rep. Carol Sente |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
35 | 5 | 220 | Amended Code | Citation Text |