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 Bill Status of HB3527  100th General Assembly


Short Description:  INC TAX-ANGEL INVESTMNT CREDIT

House Sponsors
Rep. Grant Wehrli

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. 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.

Actions 
DateChamber Action
  2/10/2017HouseFiled with the Clerk by Rep. Grant Wehrli
  2/10/2017HouseFirst Reading
  2/10/2017HouseReferred to Rules Committee
  2/22/2017HouseAssigned to Revenue & Finance Committee
  3/9/2017HouseTo Growth, Reform & Fairness Subcommittee
  3/24/2017HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Grant Wehrli
  3/24/2017HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  3/27/2017HouseHouse Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
  3/31/2017HouseRule 19(a) / Re-referred to Rules Committee
  3/31/2017HouseHouse Committee Amendment No. 1 Rule 19(a) / Re-referred to Rules Committee

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