Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.
| State or Territory: | Illinois |
| Effected Jurisdiction: | Illinois |
Jurisdiction type: | State or Territory |
| Fiscal year ending In: | 2018 |
| Program name: | Angel Investment Tax Credits |
| Program purpose: | Job Creation/Retention |
| Statutory authority: | 35 ILCS 5 |
| Abating jurisdiction(s): | State of Illinois |
| Applicable taxes: | Corporate or Individual Income Tax |
| Method of abatement: | Tax Credit |
| Provisions for recapture: | If, during the three-year period, the qualified new business venture is moved from the State or otherwise ceased, the State can recapture the abated tax requiring the taxpayer to repay the full value of the credit previously claimed. |
| Gross revenue loss: | $7,500,000 |
| Reimbursement / offset: | $0 |
| Net revenue loss: | $7,500,000 |
| Type of loss: | Active |
| Additional notes on dislosure: | (none) |
| Document source: | http://www.auditor.illinois.gov/audit-reports/Comptroller-Internal-Contr... |
