Date	Chamber	Action
5/6/2022	Senate	Public Act . . . . . . . . . 102-0741

Statutes Amended In Order of Appearance

35 ILCS 31/5

35 ILCS 31/10

35 ILCS 31/20

35 ILCS 31/25

35 ILCS 5/228

Synopsis As Introduced
Amends the Historic Preservation Tax Credit Act. Provides that the aggregate amount of the credit may not exceed $3,000,000. Provides that credits may be awarded upon completion of the project and approval of a complete application (currently, review of the project). Provides that the taxpayer is not eligible to receive credits under that Act and as qualified River Edge Redevelopment Zone property for the same qualified expenditures or qualified rehabilitation plan. Makes various technical corrections concerning allocation of credits. Amends the Illinois Income Tax Act with respect to the Historic Preservation Tax Credit to include provisions concerning limited liability companies. Effective immediately.

Senate Committee Amendment No. 1
Further amends the Historic Preservation Tax Credit Act to provide that the amount of qualified expenditures must (i) equal $5,000 or more and (ii) exceed the adjusted basis of the structure on the first day the qualified rehabilitation plan commenced (currently, the expenditures must (i) equal $5,000 or more or (ii) exceed the adjusted basis of the structure on the first day the qualified rehabilitation plan commenced). Makes various technical corrections.

Actions 

Date	Chamber	Action
2/26/2021	Senate	Filed with Secretary by Sen. Cristina Castro
2/26/2021	Senate	First Reading
2/26/2021	Senate	Referred to Assignments
3/9/2021	Senate	Assigned to Revenue
4/8/2021	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. Cristina Castro
4/8/2021	Senate	Senate Committee Amendment No. 1 Referred to Assignments
4/13/2021	Senate	Senate Committee Amendment No. 1 Assignments Refers to Revenue
4/14/2021	Senate	Senate Committee Amendment No. 1 Adopted
4/15/2021	Senate	Do Pass as Amended Revenue; 008-000-000
4/15/2021	Senate	Placed on Calendar Order of 2nd Reading April 20, 2021
4/20/2021	Senate	Second Reading
4/20/2021	Senate	Placed on Calendar Order of 3rd Reading April 21, 2021
4/21/2021	Senate	Added as Co-Sponsor Sen. Elgie R. Sims, Jr.
4/22/2021	Senate	Added as Co-Sponsor Sen. Mattie Hunter
4/22/2021	Senate	Added as Co-Sponsor Sen. Celina Villanueva
4/22/2021	Senate	Added as Co-Sponsor Sen. Karina Villa
4/23/2021	Senate	Third Reading - Passed; 058-000-000
4/26/2021	House	Arrived in House
5/4/2021	House	Chief House Sponsor Rep. Maura Hirschauer
5/4/2021	House	First Reading
5/4/2021	House	Referred to Rules Committee
5/5/2021	House	Assigned to Revenue & Finance Committee
5/15/2021	House	Rule 19(a) / Re-referred to Rules Committee
1/11/2022	House	Assigned to Revenue & Finance Committee
2/3/2022	House	To Income Tax Subcommittee
2/17/2022	House	Recommends Do Pass Subcommittee/ Revenue & Finance Committee; 006-000-000
2/17/2022	House	Reported Back To Revenue & Finance Committee;
2/17/2022	House	Do Pass / Short Debate Revenue & Finance Committee; 018-000-000
2/18/2022	House	Placed on Calendar 2nd Reading - Short Debate
3/22/2022	House	Second Reading - Short Debate
3/22/2022	House	Placed on Calendar Order of 3rd Reading - Short Debate
3/23/2022	House	Third Reading - Short Debate - Passed 112-000-000
3/23/2022	Senate	Passed Both Houses
4/21/2022	Senate	Sent to the Governor
5/6/2022	Senate	Governor Approved
5/6/2022	Senate	Effective Date May 6, 2022
5/6/2022	Senate	Public Act . . . . . . . . . 102-0741

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