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 Bill Status of HB2946  100th General Assembly


Short Description:  INC TX-ANGEL CREDIT

House Sponsors
Rep. Carol Sente - Elgie R. Sims, Jr. - Emanuel Chris Welch and Margo McDermed

Last Action
DateChamber Action
  3/31/2017HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
35 ILCS 5/220


Synopsis As Introduced
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.

Actions 
DateChamber Action
  2/9/2017HouseFiled with the Clerk by Rep. Carol Sente
  2/9/2017HouseAdded Chief Co-Sponsor Rep. Elgie R. Sims, Jr.
  2/9/2017HouseAdded Chief Co-Sponsor Rep. Emanuel Chris Welch
  2/9/2017HouseFirst Reading
  2/9/2017HouseReferred to Rules Committee
  2/16/2017HouseAdded Co-Sponsor Rep. Margo McDermed
  2/22/2017HouseAssigned to Revenue & Finance Committee
  3/9/2017HouseTo Growth, Reform & Fairness Subcommittee
  3/31/2017HouseRule 19(a) / Re-referred to Rules Committee

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