IL HB2946 | 2017-2018 | 100th General Assembly
Status
Completed Legislative Action
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
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.
Title
INC TX-ANGEL CREDIT
Sponsors
History
Date | Chamber | Action |
---|---|---|
2019-01-08 | House | Session Sine Die |
2017-03-31 | House | Rule 19(a) / Re-referred to Rules Committee |
2017-03-09 | House | To Growth, Reform & Fairness Subcommittee |
2017-02-22 | House | Assigned to Revenue & Finance Committee |
2017-02-16 | House | Added Co-Sponsor Rep. Margo McDermed |
2017-02-09 | House | Referred to Rules Committee |
2017-02-09 | House | First Reading |
2017-02-09 | House | Added Chief Co-Sponsor Rep. Emanuel Chris Welch |
2017-02-09 | House | Added Chief Co-Sponsor Rep. Elgie R. Sims, Jr. |
2017-02-09 | House | Filed with the Clerk by Rep. Carol Sente |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
35 | 5 | 220 | Amended Code | Citation Text |
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2946&GAID=14&DocTypeID=HB&SessionID=91&GA=100 |
Text | https://www.ilga.gov/legislation/100/HB/10000HB2946.htm |