<?xml version='1.0' encoding='ISO-8859-1'?>
<xml>
<title>Illinois General Assembly - Bill Status for SB 2088         </title>
<shortdesc>INC TAX-ANGEL INVESTMNT CREDIT</shortdesc>
<sponsor>
<sponsorhead1>Senate Sponsors</sponsorhead1><sponsors>Sen. Dale Fowler and Neil Anderson</sponsors>
</sponsor>
<lastaction>
<statusdate>1/9/2019</statusdate><chamber>Senate</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>35 ILCS 5/220</reference><aliasreference></aliasreference><SynopsisText>Amends the Illinois Income Tax Act. Provides that aggregate amount of angel investment tax credits that may be claimed for qualified new business ventures is increased to $25,000,000 (from $10,000,000) per calendar year, of which $2,500,000 is reserved for investments in minority owned businesses, female owned businesses, or businesses owned by a person with a disability, and $2,500,000 is reserved for investments made in businesses headquartered in counties with a population of not more than 250,000. Defines "minority owned business", "female owned business", and "business owned by a person with a disability". Extends the angel investment tax credit to December 31, 2021 (now December 31, 2016). Effective immediately.</SynopsisText></synopsis>
<actions>
<statusdate>2/10/2017</statusdate><chamber>Senate</chamber><action>Filed with Secretary by Sen. Dale Fowler</action>
<statusdate>2/10/2017</statusdate><chamber>Senate</chamber><action>First Reading</action>
<statusdate>2/10/2017</statusdate><chamber>Senate</chamber><action>Referred to Assignments</action>
<statusdate>2/28/2017</statusdate><chamber>Senate</chamber><action>Assigned to Revenue</action>
<statusdate>3/9/2017</statusdate><chamber>Senate</chamber><action>Postponed - Revenue</action>
<statusdate>3/16/2017</statusdate><chamber>Senate</chamber><action>Postponed - Revenue</action>
<statusdate>3/17/2017</statusdate><chamber>Senate</chamber><action>Rule 2-10 Committee Deadline Established As April 7, 2017</action>
<statusdate>3/29/2017</statusdate><chamber>Senate</chamber><action>Added as Co-Sponsor Sen. Neil Anderson</action>
<statusdate>4/6/2017</statusdate><chamber>Senate</chamber><action>Postponed - Revenue</action>
<statusdate>4/7/2017</statusdate><chamber>Senate</chamber><action>Rule 2-10 Committee Deadline Established As May 5, 2017</action>
<statusdate>5/5/2017</statusdate><chamber>Senate</chamber><action>Rule 3-9(a) / Re-referred to Assignments</action>
<statusdate>1/9/2019</statusdate><chamber>Senate</chamber><action>Session Sine Die</action>
</actions>
</xml>

