INC TX-ANGEL CREDIT Senate SponsorsSen. Dan Kotowski 1/8/2013SenateSession Sine Die 35 ILCS 5/221 new35 ILCS 5/222 newAmends the Illinois Income Tax Act. Creates income tax credits for amounts invested by a taxpayer in a qualified new business venture, including investments made through an investment fund manager. Provides that the credit shall be equal to 25% of the amount invested. Provides that the credits may be carried forward for a period of 5 years. Provides that not more than $10,000,000 in angel investment credits may be issued per calendar year. Provides that the credits are exempt from the Act's automatic sunset provisions. Provides that the Department of Commerce and Economic Opportunity shall certify the qualified business ventures and investment fund managers. Sets forth certain criteria for the certification of the business venture. Effective immediately. 1/27/2011SenateFiled with Secretary by Sen. Dan Kotowski 1/27/2011SenateFirst Reading 1/27/2011SenateReferred to Assignments 2/9/2011SenateAssigned to Executive 2/10/2011SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Dan Kotowski 2/10/2011SenateSenate Committee Amendment No. 1 Referred to Assignments 2/15/2011SenateSenate Committee Amendment No. 1 Assignments Refers to Executive 3/3/2011SenateSenate Committee Amendment No. 1 Postponed - Executive 3/3/2011SenatePostponed - Executive 3/10/2011SenateSenate Committee Amendment No. 1 Postponed - Executive 3/10/2011SenatePostponed - Executive 3/17/2011SenateSenate Committee Amendment No. 1 Postponed - Executive 3/17/2011SenatePostponed - Executive 3/18/2011SenateRule 3-9(a) / Re-referred to Assignments 3/18/2011SenateSenate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments 1/8/2013SenateSession Sine Die