HB 4293 |
IVCA Member Alert!UPDATE 1/24/2018"PRIVILEGE TAX" RE-INTRODUCEDTargets on capital gains earned by investment managers.
On Friday January 19, 2018, Rep. Chris Welch introduced HB 4293, the House version of Senator Daniel Biss’ 20% “privilege tax” on the capital gains income earned by investment managers. As you know, this bill has already passed the Illinois Senate as SB1719. We were successful last year in defeating HB 3393. Please engage your House Representative on this existential issue for our industry in Illinois and ask him/her to actively oppose this industry-killing measure. Illinois cannot afford to be the least attractive State in the Union for investment managers. Members should explain this bill would:
Please, take action on this issue! We know that constituents have the strongest opportunity to influence Representatives. Don't know who your legislators are? Check here Find contact info for your legislators here. Sample email, click here updated 1/24/18. Supporting documentation for your email: WSJ Illinois Policy Institute Op Ed Crain’s “Best Cities for Monster Returns ”Barron’s “A Simple Tale of Carried Interest” Pitchbook's 2017 Venture Ecosystem FactBook: Chicago |