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republic-os/legislation/us/states/il/96th/sb-256.md
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Fabio 5941153bb7 Legislation: batch B — IL IN KS KY LA MA MD ME MI MN 
Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 17:27:20 -04:00

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type, title, description, jurisdiction, legislature, session, identifier, citation, classification, subjects, status, primary_sponsors, version_count, action_count, vote_count, first_action, last_action, source, source_identifier, source_url, source_hash, vintage, source_snapshot, retrieved_at, confidence, tags
type title description jurisdiction legislature session identifier citation classification subjects status primary_sponsors version_count action_count vote_count first_action last_action source source_identifier source_url source_hash vintage source_snapshot retrieved_at confidence tags
Bill INC TAX-VENTURE CAPITAL CREDIT Amends the Illinois Income Tax Act. Provides that, for 5 taxable years, each taxpayer is entitled to an income tax credit for an investment in a qualified venture capital fund in Illinois. Provides that (i) the fund must have its primary office in Illinois (ii) at least 50% of the total number of investments in the fund's portfolio must be in companies that are based in Illinois. The amount of the credit is based on several factors: economic need of the region in Illinois where the investment occurs, the population of the county in Illinois where the investment occurs, whether the company invested in is an Illinois company that is minority or women owned, and whether the investment is a seed-level investment in an Illinois company. The taxpayer may receive a credit in the amount of 10% of the taxpayer's investment if the investment meets one of the factors and 20% if the investment meets more than one of the factors. But the taxpayer is not eligible for the credit until the fund makes an investment in Illinois. Provides that the tax credit may not reduce the taxpayer's liability to less than zero, but may be carried forward for 5 years. Effective immediately. us/states/il Illinois General Assembly 96th SB 256 Illinois SB 256 (96th)
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3 54 4 2009-02-04 2009-07-31 openstates ocd-bill/ae5f7847-78c0-4812-9adc-8ff3e788ffaa http://ilga.gov/legislation/BillStatus.asp?DocNum=256&GAID=10&DocTypeID=SB&LegId=40911&SessionID=76&GA=96 874179d95d395665108c02847b941a2c7f431d935ecd09d359fe9f4a5c5d0ced 2026-07-01 https://data.openstates.org/daily/2026-07-01/public.pgdump 2026-07-06 reported
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us-il

Illinois SB 256 (96th) — INC TAX-VENTURE CAPITAL CREDIT

Amends the Illinois Income Tax Act. Provides that, for 5 taxable years, each taxpayer is entitled to an income tax credit for an investment in a qualified venture capital fund in Illinois. Provides that (i) the fund must have its primary office in Illinois (ii) at least 50% of the total number of investments in the fund's portfolio must be in companies that are based in Illinois. The amount of the credit is based on several factors: economic need of the region in Illinois where the investment occurs, the population of the county in Illinois where the investment occurs, whether the company invested in is an Illinois company that is minority or women owned, and whether the investment is a seed-level investment in an Illinois company. The taxpayer may receive a credit in the amount of 10% of the taxpayer's investment if the investment meets one of the factors and 20% if the investment meets more than one of the factors. But the taxpayer is not eligible for the credit until the fund makes an investment in Illinois. Provides that the tax credit may not reduce the taxpayer's liability to less than zero, but may be carried forward for 5 years. Effective immediately.

Version chain

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

  1. Introduced (filed) — source
  2. Engrossed (committee substitute) — source
  3. Enrolled (enrolled) — source

Votes

  • Concurrence, Amendment 2 — 56–0 (pass) · upper
  • Third Reading — 118–0 (pass) · lower
  • Concurrence — 56–0 (pass) · upper
  • Third Reading — 50–0 (pass) · upper

Sponsors

  • Michael Noland — primary (person)

Timeline

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

  • 2009-02-04 Filed with Secretary by Sen. Michael Noland filing
  • 2009-02-04 First Reading reading-1
  • 2009-02-04 Referred to Assignments referral-committee
  • 2009-02-10 Assigned to Commerce referral-committee
  • 2009-03-12 Do Pass Commerce; 007-000-000 committee-passage
  • 2009-03-12 Placed on Calendar Order of 2nd Reading March 17, 2009
  • 2009-03-24 Second Reading reading-2
  • 2009-03-24 Placed on Calendar Order of 3rd Reading March 25, 2009
  • 2009-04-02 Added as Chief Co-Sponsor Sen. Kwame Raoul
  • 2009-04-03 Rule 2-10 Third Reading Deadline Established As April 30, 2009 reading-3
  • 2009-04-30 Added as Chief Co-Sponsor Sen. Dan Kotowski
  • 2009-04-30 Third Reading - Passed; 050-000-000 reading-3, passage
  • 2009-04-30 Arrived in House introduction
  • 2009-04-30 Placed on Calendar Order of First Reading reading-1
  • 2009-05-01 Chief House Sponsor Rep. Mark L. Walker
  • 2009-05-05 First Reading reading-1
  • 2009-05-05 Referred to Rules Committee referral-committee
  • 2009-05-11 Committee/Final Action Deadline Extended-9(b) May 22, 2009
  • 2009-05-11 Assigned to Revenue & Finance Committee referral-committee
  • 2009-05-22 Final Action Deadline Extended-9(b) May 29, 2009
  • 2009-05-26 Motion Filed to Suspend Rule 25 Revenue & Finance Committee; Rep. Barbara Flynn Currie
  • 2009-05-26 Motion to Suspend Rule 25 - Prevailed by Voice Vote
  • 2009-05-27 House Committee Amendment No. 1 Filed with Clerk by Revenue & Finance Committee amendment-introduction
  • 2009-05-27 House Committee Amendment No. 1 Adopted in Revenue & Finance Committee; by Voice Vote amendment-passage
  • 2009-05-27 Do Pass as Amended / Short Debate Revenue & Finance Committee; 009-000-000 committee-passage
  • 2009-05-27 Placed on Calendar 2nd Reading - Short Debate
  • 2009-05-27 Second Reading - Short Debate reading-2
  • 2009-05-27 Held on Calendar Order of Second Reading - Short Debate reading-2
  • 2009-05-29 Final Action Deadline Extended-9(b) May 31, 2009
  • 2009-05-30 House Floor Amendment No. 2 Filed with Clerk by Rep. Barbara Flynn Currie amendment-introduction
  • 2009-05-30 House Floor Amendment No. 2 Referred to Rules Committee referral-committee
  • 2009-05-30 House Floor Amendment No. 2 Rules Refers to Revenue & Finance Committee
  • 2009-05-31 House Floor Amendment No. 2 Recommends Be Adopted Revenue & Finance Committee; 013-000-000 committee-passage-favorable
  • 2009-05-31 House Floor Amendment No. 2 Adopted by Voice Vote amendment-passage
  • 2009-05-31 Placed on Calendar Order of 3rd Reading - Short Debate
  • 2009-05-31 Third Reading - Short Debate - Passed 118-000-000 reading-3, passage
  • 2009-05-31 Secretary's Desk - Concurrence House Amendment(s) 1, 2
  • 2009-05-31 Placed on Calendar Order of Concurrence House Amendment(s) 1, 2 - May 31, 2009
  • 2009-05-31 House Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Michael Noland filing
  • 2009-05-31 House Committee Amendment No. 1 Motion to Concur Referred to Assignments referral-committee
  • 2009-05-31 House Floor Amendment No. 2 Motion to Concur Filed with Secretary Sen. Michael Noland filing
  • 2009-05-31 House Floor Amendment No. 2 Motion to Concur Referred to Assignments referral-committee
  • 2009-06-30 House Committee Amendment No. 1 Motion to Concur Assignments Referred to Executive referral-committee
  • 2009-06-30 House Floor Amendment No. 2 Motion to Concur Assignments Referred to Executive referral-committee
  • 2009-06-30 House Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Executive; 012-000-000
  • 2009-06-30 House Floor Amendment No. 2 Motion To Concur Recommended Do Adopt Executive; 012-000-000
  • 2009-06-30 3/5 Vote Required
  • 2009-06-30 House Committee Amendment No. 1 Senate Concurs 056-000-000
  • 2009-06-30 House Floor Amendment No. 2 Senate Concurs 056-000-000
  • 2009-06-30 Passed Both Houses
  • 2009-07-29 Sent to the Governor executive-receipt
  • 2009-07-31 Governor Approved executive-signature
  • 2009-07-31 Effective Date July 31, 2009
  • 2009-07-31 Public Act . . . . . . . . . 96-0115 became-law

Source

OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/ae5f7847-78c0-4812-9adc-8ff3e788ffaa. Confidence: reported (aggregated from official Illinois legislature records).

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