HB5611 - INC TX-ANGEL CREDIT
Illinois - 103rd General Assembly
Introduced byCurtis J. Tarver
Last updated 8 months ago
1 Co-Sponsor
Amends the Illinois Income Tax Act. In provisions requiring a qualified new business venture to repay certain amounts received under the angel investment tax credit if the 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.
STATUS
Introduced
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