Bill Status of HB 1251   103rd General Assembly

Short Description:  INC TX-ANGEL INVESTMENT

House Sponsors
Rep. Margaret Croke, Joe C. Sosnowski, Mark L. Walker, Travis Weaver, Martin McLaughlin and Ann M. Williams

Last Action  View All Actions

DateChamber Action
  1/7/2025HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/220

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 
DateChamber Action
  1/18/2023HouseFiled with the Clerk by Rep. Margaret Croke
  1/18/2023HouseAdded Chief Co-Sponsor Rep. Norine K. Hammond
  1/18/2023HouseRemove Chief Co-Sponsor Rep. Norine K. Hammond
  1/31/2023HouseFirst Reading
  1/31/2023HouseReferred to Rules Committee
  2/7/2023HouseAssigned to Revenue & Finance Committee
  2/16/2023HouseTo Revenue - Tax Credit and Incentives Subcommittee
  2/23/2023HouseAdded Co-Sponsor Rep. Joe C. Sosnowski
  2/23/2023HouseAdded Co-Sponsor Rep. Mark L. Walker
  2/28/2023HouseAdded Co-Sponsor Rep. Travis Weaver
  2/28/2023HouseAdded Co-Sponsor Rep. Martin McLaughlin
  2/28/2023HouseAdded Co-Sponsor Rep. Ann M. Williams
  3/10/2023HouseRule 19(a) / Re-referred to Rules Committee
  1/7/2025HouseSession Sine Die

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