Illinois General Assembly - Bill Status for HB3129
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 Bill Status of HB3129  102nd General Assembly

Short Description:  INC TX-ANGEL CREDIT

House Sponsors
Rep. Margaret Croke - Carol Ammons

Last Action
DateChamber Action
  1/10/2023HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/220


Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that a corporation, partnership, limited liability company, or a natural person with an ownership interest of at least 33% (currently, 51%) in the profits, capital, or value of a qualified new business venture may not receive angel investment credits with respect to that qualified business venture. Provides that, if an investment is made in: (i) a qualified new business venture that is minority-owned, women-owned, or a business owned by a person with a disability; or (ii) a qualified new business venture located in a county with a population of not more than 250,000, the amount of the angel investment credit is 35% of the claimant's investment made directly in a qualified new business venture (currently, 25%). Makes changes concerning the maximum amount of the investment under the angel investment credit. Makes other changes.

Actions 
DateChamber Action
  2/18/2021HouseFiled with the Clerk by Rep. Margaret Croke
  2/19/2021HouseFirst Reading
  2/19/2021HouseReferred to Rules Committee
  3/16/2021HouseAssigned to Revenue & Finance Committee
  3/16/2021HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Margaret Croke
  3/16/2021HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  3/18/2021HouseHouse Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
  3/18/2021HouseAdded Chief Co-Sponsor Rep. Carol Ammons
  3/27/2021HouseRule 19(a) / Re-referred to Rules Committee
  3/27/2021HouseHouse Committee Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee
  1/10/2023HouseSession Sine Die

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