Bill Title: Amends the Illinois Income Tax Act. Makes the following changes with respect to the angel investment credit: (1) reinstates the credit for taxable years beginning on or after December 31, 2016 and ending on or before December 31, 2021; (2) provides that the term "applicant" includes a corporation, partnership, or limited liability company formed for the purpose of facilitating an offer or sale of a security by an in-State issuer to resident of the State as provided under a particular provision of the Illinois Securities Law of 1953; (3) provides a definition of "investment"; (4) contains a requirement that the applicant must agree to remain in the State for a period of not less than 3 years; and (5) makes changes concerning the allocation of the credit awards. Effective immediately.
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: (Failed) 2019-01-08 - Session Sine Die
[HB2946 Detail]
Bill Drafts
Revision | Date | Format | Source | View |
Introduced | 2017-02-09 | HTML/Text | Link | View |
Amendments
Amendment | Date | Disposition | Format | Source | View |
No bill amendments currently on file for Illinois HB2946 |
Supplemental Documents
Title | Description | Date | Format | Source | View |
No supplemental documents for Illinois HB2946 currently on file. |
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