Bill Title: Amends the Illinois Income Tax Act. In provisions concerning the angel investment credit, provides that the amount of the credit is 35% (rather than 25%) of the claimant's investment made directly in the qualified new business venture if the investment is made in: (1) a qualified new business venture that is a minority-owned business, a women-owned business, or a business owned a person with a disability; or (2) a qualified new business venture in which the principal place of business is located in a county with a population of not more than 250,000. Increases the aggregate amount of angel investment credits that may be claimed in a taxable year.

Spectrum: Bipartisan Bill

Status: (Introduced) 2023-03-10 - Rule 19(a) / Re-referred to Rules Committee [HB1251 Detail]

Text: Latest bill text (Introduced) [HTML]

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