SPRINGFIELD – Lt. Governor Evelyn Sanguinetti applauds the passage of the Angel Investment Tax Credit, SB2012.
SB2012 extends the $10 million tax credit for five years, which expired on December 31, 2016. SB2012 creates new tax credit set-asides for eligible businesses in rural Illinois counties as well as those owned by women, minorities and people with disabilities.
“I applaud the General Assembly for passing this bill to attract and encourage investment in early-stage, innovative companies throughout Illinois,” said Lt. Governor Sanguinetti. “This legislation is a win for businesses owned by women, minorities and people with disabilities. It is a win for rural communities and, most importantly, it is a win for Illinois.”
Lt. Governor worked with several legislators on this bill including: Sen. Chuck Weaver (R-37), Sen. Dale Fowler (R-59), Sen. Daniel Biss (D-9), Rep. Grant Wehrli (R-41), Rep. Carol Sente (D-59), Rep. Jaime Andrade Jr. (D-40), and Rep. Elgie Sims (D-34).
For more information on the Angel Investment Program, visit: https://www.illinois.gov/dceo/ExpandRelocate/Incentives/taxassistance/Pages/AngelInvestment.aspx