IVCA Provides Updates for State Legislative Issues – 4/16/2025

Illinois Venture Capital Association Illinois Legislative Report
David Stricklin / Stricklin & Associates

Wednesday, April 16, 2025

IVCA LEGISLATION OUTLOOK
The IVCA has been steadily pursuing a way to address an interpretation by the Illinois Department of Revenue regarding certain taxpayers being eligible for a credit for taxes paid in other states. The bills are SB 145 and HB 1396. Both measures have been heard in committee – the Senate bill in a subject matter only format, the House bill was approved unanimously in the Revenue Committee. It is our expectation that Revenue bills will not advance further through the process on their own but will instead by evaluated for inclusion in an omnibus measure at the end of the session. The outlook for the IVCA provisions remains positive, and we will continue working with the Illinois Taxpayers’ Federation and other allies to have this language included in the omnibus tax bill for 2025.

LEGISLATURE ON SPRING BREAK
The Illinois General Assembly is not in session this week. The House of Representatives returns to Springfield next week, while the Senate is off next week and returns to session on April 29th.

ILLINOIS ECONOMIC OUTLOOK
COGFA MARCH REPORT

PUBLIC CORRUPTION TRIAL ONGOING
ILLINOIS STATE SENATOR EMIL JONES III TAKES THE STAND