Illinois House Bill 3129 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on February 18 2021 - 25% progression, died in committee
Action: 2021-03-27 - House Committee Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Income Tax Act. Provides that a corporation, partnership, limited liability company, or a natural person with an ownership interest of at least 33% (currently, 51%) in the profits, capital, or value of a qualified new business venture may not receive angel investment credits with respect to that qualified business venture. Provides that, if an investment is made in: (i) a qualified new business venture that is minority-owned, women-owned, or a business owned by a person with a disability; or (ii) a qualified new business venture located in a county with a population of not more than 250,000, the amount of the angel investment credit is 35% of the claimant's investment made directly in a qualified new business venture (currently, 25%). Makes changes concerning the maximum amount of the investment under the angel investment credit. Makes other changes.

INC TX-ANGEL CREDIT

Rep. Margaret Croke [D]

Rep. Carol Ammons [D]

Date	Chamber	Action
2021-03-27	House	House Committee Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee
2021-03-27	House	Rule 19(a) / Re-referred to Rules Committee
2021-03-18	House	Added Chief Co-Sponsor Rep. Carol Ammons
2021-03-18	House	House Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
2021-03-16	House	House Committee Amendment No. 1 Referred to Rules Committee
2021-03-16	House	House Committee Amendment No. 1 Filed with Clerk by Rep. Margaret Croke
2021-03-16	House	Assigned to Revenue & Finance Committee
2021-02-19	House	Referred to Rules Committee
2021-02-19	House	First Reading
2021-02-18	House	Filed with the Clerk by Rep. Margaret Croke

Chapter	Article	Section	Citation Type	Statute Text
35	5	220	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3129&GAID=16&DocTypeID=HB&SessionID=110&GA=102
Text	https://www.ilga.gov/legislation/102/HB/10200HB3129.htm
Amendment	https://www.ilga.gov/legislation/102/HB/10200HB3129ham001.htm