---
type: "Bill"
title: "INC TX-ANGEL CREDIT"
description: "Amends the Illinois Income Tax Act. Makes the following changes with respect to the angel investment credit: (1) provides that the credit applies for taxable years ending on or before December 31, 2021 (currently, December 31, 2016); (2) increases the maximum aggregate amount of the angel investment credit from $10,000,000 to $20,000,000; (3) defines \"investment\" as equity, Simple Agreement for Future Equity (SAFE) Agreements, and convertible notes; (4) provides that each qualified new business venture must renew its registration on an annual basis; (5) provides that, for taxable years ending on or after December 31, 2017, applicants for the credit must make a minimum investment of $10,000 in a qualified new business venture (currently, there is no minimum investment requirement); (6) provides that the maximum amount of an applicant's total investment made directly in any single qualified new business venture that may be used as the basis for a credit under this Section is $2,000,000 (currently, that is the maximum for each investment made in a qualified new business venture); (7) contains recapture provisions; and (8) contains provisions concerning investments in minority-owned businesses, female-owned businesses, or businesses owned by a person with a disability. Effective immediately."
jurisdiction: "us/states/il"
legislature: "Illinois General Assembly"
session: "100th"
identifier: "SB 2012"
citation: "Illinois SB 2012 (100th)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: []
version_count: 3
action_count: 60
vote_count: 2
first_action: "2017-02-10"
last_action: "2017-08-24"
source: "openstates"
source_identifier: "ocd-bill/ce41c4ab-11b5-4d52-a972-f85958edb0f8"
source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=2012&GAID=14&DocTypeID=SB&LegId=105429&SessionID=91&GA=100"
source_hash: "f51b92213e5c7143b0ad3ceaf9891fc5508a8bd9977760385534f02ec9dc66ab"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-il"]
---

# Illinois SB 2012 (100th) — INC TX-ANGEL CREDIT

Amends the Illinois Income Tax Act. Makes the following changes with respect to the angel investment credit: (1) provides that the credit applies for taxable years ending on or before December 31, 2021 (currently, December 31, 2016); (2) increases the maximum aggregate amount of the angel investment credit from $10,000,000 to $20,000,000; (3) defines "investment" as equity, Simple Agreement for Future Equity (SAFE) Agreements, and convertible notes; (4) provides that each qualified new business venture must renew its registration on an annual basis; (5) provides that, for taxable years ending on or after December 31, 2017, applicants for the credit must make a minimum investment of $10,000 in a qualified new business venture (currently, there is no minimum investment requirement); (6) provides that the maximum amount of an applicant's total investment made directly in any single qualified new business venture that may be used as the basis for a credit under this Section is $2,000,000 (currently, that is the maximum for each investment made in a qualified new business venture); (7) contains recapture provisions; and (8) contains provisions concerning investments in minority-owned businesses, female-owned businesses, or businesses owned by a person with a disability. Effective immediately.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Introduced** (filed) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=10000SB2012&GA=100&SessionId=91&DocTypeId=SB&LegID=105429&DocNum=2012&GAID=14&Session=&print=true)
2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=10000SB2012eng&GA=100&SessionId=91&DocTypeId=SB&LegID=105429&DocNum=2012&GAID=14&Session=&print=true)
3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=10000SB2012enr&GA=100&SessionId=91&DocTypeId=SB&LegID=105429&DocNum=2012&GAID=14&Session=&print=true)

## Votes

- Third Reading — **50–0** (pass) · upper
- Third Reading — **113–0** (pass) · lower

## Sponsors

- Anthony DeLuca — cosponsor (person)
- Avery Bourne — cosponsor (person)
- Brandon W. Phelps — cosponsor (person)
- Chuck Weaver — primary (person)
- Daniel V. Beiser — cosponsor (person)
- David S. Olsen — cosponsor (person)
- Elizabeth Hernandez — cosponsor (person)
- Emanuel Chris Welch — cosponsor (person)
- Jerry Costello, II — cosponsor (person)
- Kathleen Willis — cosponsor (person)
- Keith R. Wheeler — cosponsor (person)
- La Shawn K. Ford — cosponsor (person)
- Lawrence Walsh, Jr. — cosponsor (person)
- Linda Chapa LaVia — cosponsor (person)
- Marcus C. Evans, Jr. — cosponsor (person)
- Michael P. McAuliffe — cosponsor (person)
- Mike Fortner — cosponsor (person)
- Patricia R. Bellock — cosponsor (person)
- Randy E. Frese — cosponsor (person)
- Sam Yingling — cosponsor (person)
- Tim Butler — cosponsor (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2017-02-10** Filed with Secretary by Sen. Chuck Weaver `filing`
- **2017-02-10** First Reading `reading-1`
- **2017-02-10** Referred to Assignments `referral-committee`
- **2017-02-28** Assigned to Revenue `referral-committee`
- **2017-03-09** Postponed - Revenue
- **2017-03-16** Postponed - Revenue
- **2017-03-17** Rule 2-10 Committee Deadline Established As April 7, 2017
- **2017-04-06** Postponed - Revenue
- **2017-04-07** Rule 2-10 Committee Deadline Established As May 5, 2017
- **2017-04-27** Senate Committee Amendment No. 1 Filed with Secretary by Sen. Chuck Weaver `amendment-introduction`
- **2017-04-27** Senate Committee Amendment No. 1 Referred to Assignments `referral-committee`
- **2017-05-02** Senate Committee Amendment No. 1 Assignments Refers to Revenue
- **2017-05-03** Senate Committee Amendment No. 1 Adopted `amendment-passage`
- **2017-05-04** Do Pass as Amended Revenue; 009-000-000 `committee-passage`
- **2017-05-04** Placed on Calendar Order of 2nd Reading
- **2017-05-04** Second Reading `reading-2`
- **2017-05-04** Placed on Calendar Order of 3rd Reading May 5, 2017
- **2017-05-04** Rule 2-10 Third Reading Deadline Established As May 31, 2017 `reading-3`
- **2017-05-05** Third Reading - Passed; 050-000-000 `reading-3, passage`
- **2017-05-08** Arrived in House `introduction`
- **2017-05-08** Chief House Sponsor Rep. Carol Sente
- **2017-05-09** First Reading `reading-1`
- **2017-05-09** Referred to Rules Committee `referral-committee`
- **2017-05-15** Assigned to Revenue & Finance Committee `referral-committee`
- **2017-05-18** Added Alternate Chief Co-Sponsor Rep. Elgie R. Sims, Jr.
- **2017-05-19** Committee Deadline Extended-Rule 9(b) May 26, 2017
- **2017-05-24** Do Pass / Short Debate Revenue & Finance Committee; 011-000-000 `committee-passage`
- **2017-05-24** Placed on Calendar 2nd Reading - Short Debate
- **2017-05-24** Added Alternate Chief Co-Sponsor Rep. Grant Wehrli
- **2017-05-24** Added Alternate Chief Co-Sponsor Rep. Brian W. Stewart
- **2017-05-24** Second Reading - Short Debate `reading-2`
- **2017-05-24** Placed on Calendar Order of 3rd Reading - Short Debate
- **2017-05-24** Added Alternate Co-Sponsor Rep. Emanuel Chris Welch
- **2017-05-24** Added Alternate Co-Sponsor Rep. Anthony DeLuca
- **2017-05-24** Added Alternate Co-Sponsor Rep. Keith R. Wheeler
- **2017-05-24** Added Alternate Co-Sponsor Rep. Tim Butler
- **2017-05-24** Added Alternate Co-Sponsor Rep. Jerry Costello, II
- **2017-05-24** Added Alternate Co-Sponsor Rep. Randy E. Frese
- **2017-05-24** Added Alternate Co-Sponsor Rep. Avery Bourne
- **2017-05-24** Added Alternate Co-Sponsor Rep. Michael P. McAuliffe
- **2017-05-24** Added Alternate Chief Co-Sponsor Rep. Jaime M. Andrade, Jr.
- **2017-05-26** Final Action Deadline Extended-9(b) May 31, 2017
- **2017-05-30** Third Reading - Short Debate - Passed 113-000-000 `reading-3, passage`
- **2017-05-30** Added Alternate Co-Sponsor Rep. Elizabeth Hernandez
- **2017-05-30** Added Alternate Co-Sponsor Rep. Mike Fortner
- **2017-05-30** Added Alternate Co-Sponsor Rep. David S. Olsen
- **2017-05-30** Added Alternate Co-Sponsor Rep. Linda Chapa LaVia
- **2017-05-30** Passed Both Houses
- **2017-05-31** Added Alternate Co-Sponsor Rep. Patricia R. Bellock
- **2017-05-31** Added Alternate Co-Sponsor Rep. Lawrence Walsh, Jr.
- **2017-05-31** Added Alternate Co-Sponsor Rep. Brandon W. Phelps
- **2017-05-31** Added Alternate Co-Sponsor Rep. Daniel V. Beiser
- **2017-05-31** Added Alternate Co-Sponsor Rep. Kathleen Willis
- **2017-05-31** Added Alternate Co-Sponsor Rep. Sam Yingling
- **2017-05-31** Added Alternate Co-Sponsor Rep. Marcus C. Evans, Jr.
- **2017-05-31** Added Alternate Co-Sponsor Rep. La Shawn K. Ford
- **2017-06-28** Sent to the Governor `executive-receipt`
- **2017-08-24** Governor Approved `executive-signature`
- **2017-08-24** Effective Date January 1, 2018
- **2017-08-24** Public Act . . . . . . . . . 100-0328 `became-law`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/ce41c4ab-11b5-4d52-a972-f85958edb0f8`. Confidence: reported (aggregated from official Illinois legislature records).