Bill Title: 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.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2021-03-27 - House Committee Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee [HB3129 Detail]

Text: Latest bill text (Introduced) [HTML]

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