Illinois Administrative Code
Title 14 - COMMERCE
Part 531 - ANGEL INVESTMENT CREDIT PROGRAM
Section 531.50 - Application Review and Approval
Current through Register Vol. 48, No. 38, September 20, 2024
a) The Department shall accept applications after January 1, 2011 and via the procedures established by the Department. Applications will be reviewed in order received at the Department's Springfield office or electronically at Angelinvestment@illinois.gov. Application tracking procedures shall be determined and established at the discretion of the Department.
b) After receipt of an application and upon satisfactory review, the Department shall issue a tax credit certificate stating the amount of the tax credit. [ 35 ILCS 5/220(d)]
c) On a form provided by the Department, the claimant must annually report and certify that claimant's investment has been made and remains in the qualified new business venture. Upon satisfactory review, the Department shall annually certify that: