IL HB5214 | 2017-2018 | 100th General Assembly

Status

Spectrum: Slight Partisan Bill (Democrat 9-3)
Status: Engrossed on April 19 2018 - 50% progression
Action: 2018-04-23 - Placed on Calendar Order of First Reading April 24, 2018
Text: Latest bill text (Engrossed) [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

Register now for our free OneVote public service or GAITS Professional trial account and you can begin tracking this and other legislation, all driven by the real-time data of the LegiScan API. Providing tools allowing you to research pending legislation, stay informed with email alerts, content feeds, and share dynamic reports. Use our new PolitiCorps to join with friends and collegaues to monitor & discuss bills through the process.

Monitor Legislation or view this same bill number from multiple sessions or take advantage of our national legislative search.

Title

INCOME TAX-ANGEL INVEST CREDIT

Sponsors


Roll Calls

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

History

DateChamberAction
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

feedback