Bill Status of SB0304 103rd General Assembly
Short Description: INC TX-ANGEL INVESTMENT
Sen. Suzy Glowiak Hilton - Paul Faraci
|Rule 3-9(a) / Re-referred to Assignments
Statutes Amended In Order of Appearance
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.