Illinois Senate Bill 2088 (Prior Session Legislation)

---

Completed Legislative Action
Spectrum: Partisan Bill (Republican 2-0)
Status: Failed on January 9 2019 - 100% progression
Action: 2019-01-09 - 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

Sen. Dale Fowler [R]

Sen. Neil Anderson [R]

Date	Chamber	Action
2019-01-09	Senate	Session Sine Die
2017-05-05	Senate	Rule 3-9(a) / Re-referred to Assignments
2017-04-07	Senate	Rule 2-10 Committee Deadline Established As May 5, 2017
2017-04-06	Senate	Postponed - Revenue
2017-03-29	Senate	Added as Co-Sponsor Sen. Neil Anderson
2017-03-17	Senate	Rule 2-10 Committee Deadline Established As April 7, 2017
2017-03-16	Senate	Postponed - Revenue
2017-03-09	Senate	Postponed - Revenue
2017-02-28	Senate	Assigned to Revenue
2017-02-10	Senate	Referred to Assignments
2017-02-10	Senate	First Reading
2017-02-10	Senate	Filed with Secretary by Sen. Dale Fowler

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=2088&GAID=14&DocTypeID=SB&SessionID=91&GA=100
Text	https://www.ilga.gov/legislation/100/SB/10000SB2088.htm