IVCA Provides Updates for State Legislative Issues – 07/03/2024
Illinois Venture Capital Association Illinois Legislative Report
David Stricklin / Stricklin & Associates
Wednesday, July 3, 2024
IVCA MEETS WITH IDOR ON QIP
Discussions continue with the Illinois Department of Revenue on its approach to implementing parts of the income tax code relative to Investment Partnerships. A 45-minute discussion was held last week by IVCA-connected legal and accounting experts with the legal team at IDOR. The conclusion was more work should be done to develop an approach which is palatable to the state and IVCA members. If you would like more information and want to be involved in discussions and development of legislative language going forward, please contact IVCA Executive Director Christie Pruyn.
ILLINOIS GOVERNOR PRITZKER AND PRESIDENTIAL POLITICS
Illinois Governor JB Pritzker is among a handful of Democratic governors mentioned as future presidential candidates and is also among those who have taken on a surrogate role supporting President Joe Biden. After the Atlanta debate performance by the president caused Democrats to re-assess the top of the ticket, Governor Pritzker has huddled with other Democratic governors around the country and appeared on CNN and other outlets outlining his support for the president, while also urging a more forceful response and approach. The White House is expected to meet this evening with a group of governors including Governor Pritzker.
SUPREME COURT UPENDS ILLINOIS PROSECUTIONS
WILL CONVICTIONS OF “COMED 4” STAND?
Madigan’s defense team has argued the Snyder decision could have a “monumental impact” on this “irrefutably complex” case. Several of the charges in his case are based around this particular bribery statute.
SUPREME COURT CASTS DOUBT ON ILLINOIS CASES
Cases against former Illinois House Speaker Michael Madigan and some of his allies have relied in part on a federal bribery law. But the Supreme Court ruled that the law does not cover cases where a state or local official got gifts or payments after the fact for actions they’d already taken.
COGFA MONTHLY REPORT