IL SB3155 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Engrossed on April 12 2024 - 50% progression
Action: 2024-05-16 - Held on Calendar Order of Second Reading - Short Debate
Text: Latest bill text (Engrossed) [HTML]
Status: Engrossed on April 12 2024 - 50% progression
Action: 2024-05-16 - Held on Calendar Order of Second Reading - Short Debate
Text: Latest bill text (Engrossed) [HTML]
Summary
Amends the Illinois Income Tax Act. In provisions requiring a claimant or claimants to repay certain amounts received under the angel investment tax credit if a qualified new business venture fails to maintain its minimum employment threshold, provides that, during the 3-year reporting period that includes March 13, 2020 to January 1, 2024, the repayment of any tax credits issued under those provisions shall be determined at the discretion of the Department of Commerce and Economic Opportunity. Effective immediately.
Title
INC TX-ANGEL CREDIT
Sponsors
Roll Calls
2024-04-12 - Senate - Third Reading in Senate (Y: 59 N: 0 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2024-05-16 | House | Held on Calendar Order of Second Reading - Short Debate |
| 2024-05-16 | House | Second Reading - Short Debate |
| 2024-05-15 | House | Placed on Calendar 2nd Reading - Short Debate |
| 2024-05-14 | House | Do Pass / Short Debate Revenue & Finance Committee; 015-000-000 |
| 2024-05-03 | House | Committee/Final Action Deadline Extended-9(b) May 24, 2024 |
| 2024-04-24 | House | Assigned to Revenue & Finance Committee |
| 2024-04-15 | House | Referred to Rules Committee |
| 2024-04-15 | House | First Reading |
| 2024-04-12 | House | Chief House Sponsor Rep. Curtis J. Tarver, II |
| 2024-04-12 | House | Arrived in House |
| 2024-04-12 | Senate | Third Reading - Passed; 059-000-000 |
| 2024-04-10 | Senate | Placed on Calendar Order of 3rd Reading ** |
| 2024-03-14 | Senate | Placed on Calendar Order of 3rd Reading March 20, 2024 |
| 2024-03-14 | Senate | Second Reading |
| 2024-02-21 | Senate | Placed on Calendar Order of 2nd Reading February 22, 2024 |
| 2024-02-21 | Senate | Do Pass Revenue; 008-000-000 |
| 2024-02-20 | Senate | Added as Co-Sponsor Sen. Win Stoller |
| 2024-02-14 | Senate | Assigned to Revenue |
| 2024-02-06 | Senate | Referred to Assignments |
| 2024-02-06 | Senate | First Reading |
| 2024-02-06 | Senate | Filed with Secretary by Sen. Bill Cunningham |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 35 | 5 | 220 | Amended Code | Citation Text |
