INC TX-ANGEL CREDIT

What it does

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

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.

Every action

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

1. May 23, 2024HouseAdded Alternate Co-Sponsor Rep. Yolonda Morris
2. May 23, 2024HouseAdded Alternate Co-Sponsor Rep. Carol Ammons
3. May 23, 2024HouseThird Reading - Short Debate - Passed 112-000-000
4. May 23, 2024SenatePassed Both Houses
5. Jun 21, 2024SenateSent to the Governor
6. Aug 9, 2024SenateGovernor Approved
7. Aug 9, 2024SenateEffective Date August 9, 2024
8. Aug 9, 2024SenatePublic Act . . . . . . . . . 103-0945

Roll calls

4 recorded votes: 2 on the floor, 2 in committee. Each shows how every member voted.

Committee and other votes

Sponsors

The member who introduced it, joined by 8 cosponsors: 7 Democrats, 1 Republican.

• Bill CunninghamD Primary sponsor · District 18
• Curtis J. Tarver, IID Floor sponsor · District 25