The Small Business Advocacy Council went to Springfield on March 30th, 2017 to advocate for the small business community and economic policies that can spark Illinois’ economy.
SBAC Advocacy Director, Ryan Tolley, Representative Carol Sente and SBAC Member Anthony Zeoli participated in two hearings in the House of Representatives Revenue Committee and the Business Growth & Incentives Committee.
During the Revenue Committee Hearing, Advocacy Director Ryan Tolley gave a testimony focused on the importance of the small business community’s voice in discussions on passing a responsible budget. He also presented measures that can be taken to improve our state’s economy.
Below is his testimony:
“My name in Ryan Tolley, Advocacy Director with the Small Business Advocacy Council. We are here to testify about several pieces of legislation that will empower the small business community, improve our state’s economy and begin changing the perception of Illinois’ small business climate.
Our first priority is that our state pass a responsible budget. As part of that process and discussions around the formation of good economic policy, it is important that the voice of the small business community is heard. Small businesses create jobs and drive Illinois’ economy. Empowering the small business community will spark the economy and create revenue for the state.
We are here today to advocate for a few things: lowering among the highest LLC fees in the nation and expanding the angel tax credit to allow people who make investments into small businesses through intrastate equity crowdfunding to have access to tax credits previously reserved for larger investors.
We hear policy-makers talk about how important small businesses are to the Illinois’ economy. Passing legislation that moves these initiatives will improve our economy, create jobs and support local communities.
Thank you for taking my statements today. I will be happy to answer any questions that the committee has.”
At our meeting with Business Growth & Incentives committee, we advocated for a bill, HB3792, that would make it easier for small businesses to raise money through intrastate equity crowdfunding and drive economic growth. The bill passed committee with no opposition, collecting an additional 18 co-sponsors. The legislation now moves to the House Floor.
The SBAC continues to be laser-focused on working to pass a responsible budget in Illinois. We look forward to bringing a robust group of members to Springfield on May 9th. If you would are interesting in joining the SBAC for the trip, visit here for more details.