Tax Break Tracker Individual Entry

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.

Reporting Jurisdiction: 
Jurisdiction type
Fiscal year ending In: 
Program name: 
Angel Investment Credit Program
Program purpose
Capital investment
Statutory authority
Section 220 of the Illinois Income Tax Act (35 ILCS 5)
Abating jurisdiction(s)
State of Illinois
Applicable taxes: 
Income Taxes
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
Reimbursement / offset
Net revenue loss
Type of loss
Additional notes on dislosure: 
Reduced amounts shared with local governments by $269 million