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.
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“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
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