Illinois General Assembly - Bill Status for HB5611

Synopsis As Introduced
Amends the Illinois Income Tax Act. In provisions requiring a qualified new business venture to repay certain amounts received under the angel investment tax credit if the qualified new business venture fails to maintain its minimum employment threshold, provides that, during the 3-year reporting period that includes March 13, 2020 to January 1, 2024, the repayment of any tax credits issued under those provisions shall be determined at the discretion of the Department of Commerce and Economic Opportunity. Effective immediately.

Actions

Date	Chamber	Action
2/9/2024	House	Filed with the Clerk by Rep. Curtis J. Tarver, II
2/9/2024	House	First Reading
2/9/2024	House	Referred to Rules Committee
2/28/2024	House	Assigned to Revenue & Finance Committee
3/8/2024	House	To Revenue - Tax Credit and Incentives Subcommittee
4/5/2024	House	Rule 19(a) / Re-referred to Rules Committee

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