Bill Status of SB3155  103rd General Assembly

Short Description:  INC TX-ANGEL CREDIT

Senate Sponsors
Sen. Bill Cunningham and Win Stoller

House Sponsors
(Rep. Curtis J. Tarver, II, Sharon Chung, Rita Mayfield, Joyce Mason, Mary Gill, Matt Hanson, Yolonda Morris and Carol Ammons)

Last Action
DateChamber Action
  8/9/2024SenatePublic Act . . . . . . . . . 103-0945

Statutes Amended In Order of Appearance
35 ILCS 5/220


Synopsis As Introduced
Amends the Illinois Income Tax Act. In provisions requiring a claimant or claimants to repay certain amounts received under the angel investment tax credit if a 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 
DateChamber Action
  2/6/2024SenateFiled with Secretary by Sen. Bill Cunningham
  2/6/2024SenateFirst Reading
  2/6/2024SenateReferred to Assignments
  2/14/2024SenateAssigned to Revenue
  2/20/2024SenateAdded as Co-Sponsor Sen. Win Stoller
  2/21/2024SenateDo Pass Revenue; 008-000-000
  2/21/2024SenatePlaced on Calendar Order of 2nd Reading February 22, 2024
  3/14/2024SenateSecond Reading
  3/14/2024SenatePlaced on Calendar Order of 3rd Reading March 20, 2024
  4/10/2024SenatePlaced on Calendar Order of 3rd Reading **
  4/12/2024SenateThird Reading - Passed; 059-000-000
  4/12/2024HouseArrived in House
  4/12/2024HouseChief House Sponsor Rep. Curtis J. Tarver, II
  4/15/2024HouseFirst Reading
  4/15/2024HouseReferred to Rules Committee
  4/24/2024HouseAssigned to Revenue & Finance Committee
  5/3/2024HouseCommittee/Final Action Deadline Extended-9(b) May 24, 2024
  5/14/2024HouseDo Pass / Short Debate Revenue & Finance Committee; 015-000-000
  5/15/2024HousePlaced on Calendar 2nd Reading - Short Debate
  5/16/2024HouseSecond Reading - Short Debate
  5/16/2024HouseHeld on Calendar Order of Second Reading - Short Debate
  5/23/2024HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/23/2024HouseAdded Alternate Co-Sponsor Rep. Sharon Chung
  5/23/2024HouseAdded Alternate Co-Sponsor Rep. Rita Mayfield
  5/23/2024HouseAdded Alternate Co-Sponsor Rep. Joyce Mason
  5/23/2024HouseAdded Alternate Co-Sponsor Rep. Mary Gill
  5/23/2024HouseAdded Alternate Co-Sponsor Rep. Matt Hanson
  5/23/2024HouseAdded Alternate Co-Sponsor Rep. Yolonda Morris
  5/23/2024HouseAdded Alternate Co-Sponsor Rep. Carol Ammons
  5/23/2024HouseThird Reading - Short Debate - Passed 112-000-000
  5/23/2024SenatePassed Both Houses
  6/21/2024SenateSent to the Governor
  8/9/2024SenateGovernor Approved
  8/9/2024SenateEffective Date August 9, 2024
  8/9/2024SenatePublic Act . . . . . . . . . 103-0945