Illinois General Assembly - Bill Status for HB1251

Synopsis As Introduced
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.

Actions

Date	Chamber	Action
1/18/2023	House	Filed with the Clerk by Rep. Margaret Croke
1/18/2023	House	Added Chief Co-Sponsor Rep. Norine K. Hammond
1/18/2023	House	Remove Chief Co-Sponsor Rep. Norine K. Hammond
1/31/2023	House	First Reading
1/31/2023	House	Referred to Rules Committee
2/7/2023	House	Assigned to Revenue & Finance Committee
2/16/2023	House	To Revenue - Tax Credit and Incentives Subcommittee
2/23/2023	House	Added Co-Sponsor Rep. Joe C. Sosnowski
2/23/2023	House	Added Co-Sponsor Rep. Mark L. Walker
2/28/2023	House	Added Co-Sponsor Rep. Travis Weaver
2/28/2023	House	Added Co-Sponsor Rep. Martin McLaughlin
2/28/2023	House	Added Co-Sponsor Rep. Ann M. Williams
3/10/2023	House	Rule 19(a) / Re-referred to Rules Committee

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