Date	Chamber	Action
1/10/2023	Senate	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 5/221

Synopsis As Introduced
Amends the Illinois Income Tax Act. Extends a tax credit allowable for qualified expenditures incurred by a qualified taxpayer in the restoration and preservation of a qualified historic structure located in a River Edge Redevelopment Zone to January 1, 2031 (currently, through January 1, 2022). Provides that, in order to qualify for such a tax credit, expenditures must: (i) equal $5,000 or more, (ii) exceed the adjusted basis of the qualified historic structure on the first day the qualified rehabilitation plan begins, and (iii) be a part of a qualified rehabilitation plan or phase of a qualified rehabilitation plan that received final approval to begin the expenditures no later than December 31, 2026 (currently, only (i) and (ii) are required). Effective immediately.

Senate Floor Amendment No. 1
Makes a technical correction to the introduced bill by providing that the credit for restoration of qualified historic properties in a River Edge Redevelopment Zone applies for taxable years ending prior to January 1, 2027 (currently, January 1, 2022).

Actions 

Date	Chamber	Action
2/26/2021	Senate	Filed with Secretary by Sen. David Koehler
2/26/2021	Senate	First Reading
2/26/2021	Senate	Referred to Assignments
3/9/2021	Senate	Assigned to Revenue
4/15/2021	Senate	Do Pass Revenue; 008-000-000
4/15/2021	Senate	Placed on Calendar Order of 2nd Reading April 20, 2021
4/16/2021	Senate	Senate Floor Amendment No. 1 Filed with Secretary by Sen. David Koehler
4/16/2021	Senate	Senate Floor Amendment No. 1 Referred to Assignments
4/20/2021	Senate	Senate Floor Amendment No. 1 Assignments Refers to Revenue
4/20/2021	Senate	Second Reading
4/20/2021	Senate	Placed on Calendar Order of 3rd Reading April 21, 2021
4/21/2021	Senate	Senate Floor Amendment No. 1 Recommend Do Adopt Revenue; 010-000-000
4/22/2021	Senate	Senate Floor Amendment No. 2 Filed with Secretary by Sen. David Koehler
4/22/2021	Senate	Senate Floor Amendment No. 2 Referred to Assignments
4/23/2021	Senate	Rule 2-10 Third Reading Deadline Established As April 30, 2021
4/27/2021	Senate	Senate Floor Amendment No. 2 Assignments Refers to Revenue
4/29/2021	Senate	Recalled to Second Reading
4/29/2021	Senate	Senate Floor Amendment No. 1 Adopted; Koehler
4/29/2021	Senate	Third Reading - Passed; 053-000-000
4/29/2021	Senate	Senate Floor Amendment No. 2 Tabled Pursuant to Rule 5-4(a)
4/30/2021	House	Arrived in House
5/3/2021	House	Chief House Sponsor Rep. Jehan Gordon-Booth
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
1/10/2023	Senate	Session Sine Die

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