Illinois · Senate Bill 304 · 103rd General Assembly

INC TX-ANGEL INVESTMENT

SB 304 Sponsored by Suzy Glowiak Hilton Died in committee

  1. Introduced Feb 2, 2023
  2. In committee Feb 2, 2023
  3. Died  
  4. Passed the House  
  5. To the governor  
  6. Became law  

What it does

The legislature's own summary of the bill, or its official long title.

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…

Read the full title (109 words)

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.

Every action

7 steps, oldest first, as the legislature records them.

  1. SenateFiled with Secretary by Sen. Suzy Glowiak Hilton
  2. SenateFirst Reading
  3. CommitteeReferred to Assignments · Senate Assignments
  4. CommitteeAssigned to Revenue · Senate Revenue
  5. SenateAdded as Chief Co-Sponsor Sen. Paul Faraci
  6. CommitteeRule 3-9(a) / Re-referred to Assignments · Senate Assignments
  7. SenateSession Sine Die

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it, joined by 1 cosponsor: 1 Democrat.

All 1 cosponsor

From Illinois's official records (www.ilga.gov), checked Nov 2, 2026. Text links go to the official versions; LegiList does not copy bill text.