Fabio
140 lines
9.3 KiB
Markdown
140 lines
9.3 KiB
Markdown
---
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type: "Bill"
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title: "INC TX-ANGEL CREDIT"
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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."
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jurisdiction: "us/states/il"
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legislature: "Illinois General Assembly"
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session: "100th"
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identifier: "SB 2012"
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citation: "Illinois SB 2012 (100th)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: []
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version_count: 3
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action_count: 60
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vote_count: 2
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first_action: "2017-02-10"
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last_action: "2017-08-24"
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source: "openstates"
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source_identifier: "ocd-bill/ce41c4ab-11b5-4d52-a972-f85958edb0f8"
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source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=2012&GAID=14&DocTypeID=SB&LegId=105429&SessionID=91&GA=100"
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source_hash: "f51b92213e5c7143b0ad3ceaf9891fc5508a8bd9977760385534f02ec9dc66ab"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-il"]
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---
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# Illinois SB 2012 (100th) — INC TX-ANGEL CREDIT
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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.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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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)
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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)
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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)
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## Votes
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- Third Reading — **50–0** (pass) · upper
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- Third Reading — **113–0** (pass) · lower
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## Sponsors
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- Anthony DeLuca — cosponsor (person)
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- Avery Bourne — cosponsor (person)
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- Brandon W. Phelps — cosponsor (person)
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- Chuck Weaver — primary (person)
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- Daniel V. Beiser — cosponsor (person)
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- David S. Olsen — cosponsor (person)
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- Elizabeth Hernandez — cosponsor (person)
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- Emanuel Chris Welch — cosponsor (person)
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- Jerry Costello, II — cosponsor (person)
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- Kathleen Willis — cosponsor (person)
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- Keith R. Wheeler — cosponsor (person)
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- La Shawn K. Ford — cosponsor (person)
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- Lawrence Walsh, Jr. — cosponsor (person)
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- Linda Chapa LaVia — cosponsor (person)
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- Marcus C. Evans, Jr. — cosponsor (person)
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- Michael P. McAuliffe — cosponsor (person)
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- Mike Fortner — cosponsor (person)
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- Patricia R. Bellock — cosponsor (person)
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- Randy E. Frese — cosponsor (person)
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- Sam Yingling — cosponsor (person)
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- Tim Butler — cosponsor (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2017-02-10** Filed with Secretary by Sen. Chuck Weaver `filing`
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- **2017-02-10** First Reading `reading-1`
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- **2017-02-10** Referred to Assignments `referral-committee`
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- **2017-02-28** Assigned to Revenue `referral-committee`
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- **2017-03-09** Postponed - Revenue
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- **2017-03-16** Postponed - Revenue
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- **2017-03-17** Rule 2-10 Committee Deadline Established As April 7, 2017
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- **2017-04-06** Postponed - Revenue
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- **2017-04-07** Rule 2-10 Committee Deadline Established As May 5, 2017
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- **2017-04-27** Senate Committee Amendment No. 1 Filed with Secretary by Sen. Chuck Weaver `amendment-introduction`
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- **2017-04-27** Senate Committee Amendment No. 1 Referred to Assignments `referral-committee`
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- **2017-05-02** Senate Committee Amendment No. 1 Assignments Refers to Revenue
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- **2017-05-03** Senate Committee Amendment No. 1 Adopted `amendment-passage`
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- **2017-05-04** Do Pass as Amended Revenue; 009-000-000 `committee-passage`
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- **2017-05-04** Placed on Calendar Order of 2nd Reading
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- **2017-05-04** Second Reading `reading-2`
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- **2017-05-04** Placed on Calendar Order of 3rd Reading May 5, 2017
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- **2017-05-04** Rule 2-10 Third Reading Deadline Established As May 31, 2017 `reading-3`
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- **2017-05-05** Third Reading - Passed; 050-000-000 `reading-3, passage`
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- **2017-05-08** Arrived in House `introduction`
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- **2017-05-08** Chief House Sponsor Rep. Carol Sente
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- **2017-05-09** First Reading `reading-1`
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- **2017-05-09** Referred to Rules Committee `referral-committee`
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- **2017-05-15** Assigned to Revenue & Finance Committee `referral-committee`
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- **2017-05-18** Added Alternate Chief Co-Sponsor Rep. Elgie R. Sims, Jr.
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- **2017-05-19** Committee Deadline Extended-Rule 9(b) May 26, 2017
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- **2017-05-24** Do Pass / Short Debate Revenue & Finance Committee; 011-000-000 `committee-passage`
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- **2017-05-24** Placed on Calendar 2nd Reading - Short Debate
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- **2017-05-24** Added Alternate Chief Co-Sponsor Rep. Grant Wehrli
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- **2017-05-24** Added Alternate Chief Co-Sponsor Rep. Brian W. Stewart
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- **2017-05-24** Second Reading - Short Debate `reading-2`
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- **2017-05-24** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2017-05-24** Added Alternate Co-Sponsor Rep. Emanuel Chris Welch
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- **2017-05-24** Added Alternate Co-Sponsor Rep. Anthony DeLuca
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- **2017-05-24** Added Alternate Co-Sponsor Rep. Keith R. Wheeler
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- **2017-05-24** Added Alternate Co-Sponsor Rep. Tim Butler
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- **2017-05-24** Added Alternate Co-Sponsor Rep. Jerry Costello, II
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- **2017-05-24** Added Alternate Co-Sponsor Rep. Randy E. Frese
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- **2017-05-24** Added Alternate Co-Sponsor Rep. Avery Bourne
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- **2017-05-24** Added Alternate Co-Sponsor Rep. Michael P. McAuliffe
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- **2017-05-24** Added Alternate Chief Co-Sponsor Rep. Jaime M. Andrade, Jr.
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- **2017-05-26** Final Action Deadline Extended-9(b) May 31, 2017
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- **2017-05-30** Third Reading - Short Debate - Passed 113-000-000 `reading-3, passage`
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- **2017-05-30** Added Alternate Co-Sponsor Rep. Elizabeth Hernandez
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- **2017-05-30** Added Alternate Co-Sponsor Rep. Mike Fortner
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- **2017-05-30** Added Alternate Co-Sponsor Rep. David S. Olsen
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- **2017-05-30** Added Alternate Co-Sponsor Rep. Linda Chapa LaVia
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- **2017-05-30** Passed Both Houses
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- **2017-05-31** Added Alternate Co-Sponsor Rep. Patricia R. Bellock
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- **2017-05-31** Added Alternate Co-Sponsor Rep. Lawrence Walsh, Jr.
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- **2017-05-31** Added Alternate Co-Sponsor Rep. Brandon W. Phelps
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- **2017-05-31** Added Alternate Co-Sponsor Rep. Daniel V. Beiser
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- **2017-05-31** Added Alternate Co-Sponsor Rep. Kathleen Willis
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- **2017-05-31** Added Alternate Co-Sponsor Rep. Sam Yingling
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- **2017-05-31** Added Alternate Co-Sponsor Rep. Marcus C. Evans, Jr.
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- **2017-05-31** Added Alternate Co-Sponsor Rep. La Shawn K. Ford
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- **2017-06-28** Sent to the Governor `executive-receipt`
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- **2017-08-24** Governor Approved `executive-signature`
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- **2017-08-24** Effective Date January 1, 2018
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- **2017-08-24** Public Act . . . . . . . . . 100-0328 `became-law`
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## Source
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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).
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