State passes incentive to grow tech businesses
The Illinois General Assembly Thursday passed an Angel Tax Credit that incentivizes early-stage investment in Illinois technology companies.
The governor is expected to sign the bill or a second measure with an identical tax credit sent to the Senate by the House.
The program could be enacted into law this spring or in November. The legislation, which would be effective on Jan. 1, would provide early-stage institutional investors with a capped 25 percent credit against state taxes when the investors provide funding to small, early-stage technology firms.
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