Bill Status of SB 2445   102nd General Assembly

Short Description:  BUILD ILLINOIS HOMES CREDIT

Senate Sponsors
Sen. Mattie Hunter-Ann Gillespie-Sara Feigenholtz-Jacqueline Y. Collins, Cristina H. Pacione-Zayas, Laura M. Murphy and Adriane Johnson

Last Action  View All Actions

DateChamber Action
  1/10/2023SenateSession Sine Die

Statutes Amended In Order of Appearance
New Act
20 ILCS 3805/13.1 new
35 ILCS 5/232 new
35 ILCS 120/5m new
35 ILCS 200/15-178 new
215 ILCS 5/409from Ch. 73, par. 1021
215 ILCS 5/444from Ch. 73, par. 1056
310 ILCS 67/15
310 ILCS 67/25
310 ILCS 67/50
310 ILCS 67/70 new

Synopsis As Introduced
Creates the Build Illinois Homes Tax Credit Act. Provides that owners of qualified low-income housing developments are eligible for credits against (i) State income taxes and (ii) any privilege tax or retaliatory tax, penalty, fee, charge, or payment imposed under the Illinois Insurance Code. Amends the Illinois Housing Development Act. Provides that the Illinois Housing Development Authority shall develop a form and include it with certain financing agreements. Amends the Retailers' Occupation Tax Act. Creates an exemption for building materials to be incorporated into an 100% affordable housing project by rehabilitation or new construction. Amends the Property Tax Code. Provides for a reduction in assessed value for affordable rental housing construction or rehabilitation. Amends the Affordable Housing Planning and Appeal Act. Provides that an affordable housing plan, or any revision thereof, shall not be adopted by a non-exempt local government until notice and opportunity for public hearing have first been afforded. Makes other changes. Effective immediately.

Senate Committee Amendment No. 1
Adds reference to:
35 ILCS 200/10-260

Provides that the credits and incentives created in the introduced bill apply on or after January 1, 2024 (in the introduced bill January 1, 2021). In provisions creating the Build Illinois Homes Tax Credit Act, provides that notice of recapture shall be sent to the owner of the qualified development, the Department of Revenue, and the Department of Insurance (in the introduced bill, the Department of Revenue and Department of Insurance only). Further amends the Property Tax Code. Makes changes concerning the assessment of low-income housing projects that qualify for the Low-Income Housing Tax Credit under Section 42 of the Internal Revenue Code. Makes other technical changes.

Actions 
DateChamber Action
  2/26/2021SenateFiled with Secretary by Sen. Mattie Hunter
  2/26/2021SenateChief Co-Sponsor Sen. Ann Gillespie
  2/26/2021SenateChief Co-Sponsor Sen. Sara Feigenholtz
  2/26/2021SenateFirst Reading
  2/26/2021SenateReferred to Assignments
  3/23/2021SenateAssigned to Revenue
  3/25/2021SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins
  4/8/2021SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Mattie Hunter
  4/8/2021SenateSenate Committee Amendment No. 1 Referred to Assignments
  4/13/2021SenateSenate Committee Amendment No. 1 Assignments Refers to Revenue
  4/14/2021SenateSenate Committee Amendment No. 1 Adopted
  4/15/2021SenateDo Pass as Amended Revenue; 009-000-000
  4/15/2021SenatePlaced on Calendar Order of 2nd Reading April 20, 2021
  4/16/2021SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Mattie Hunter
  4/16/2021SenateSenate Floor Amendment No. 2 Referred to Assignments
  4/20/2021SenateSenate Floor Amendment No. 2 Assignments Refers to Revenue
  4/20/2021SenateSecond Reading
  4/20/2021SenatePlaced on Calendar Order of 3rd Reading April 21, 2021
  4/21/2021SenateSenate Floor Amendment No. 2 Postponed - Revenue
  4/23/2021SenateRule 2-10 Third Reading Deadline Established As April 30, 2021
  4/29/2021SenateAdded as Co-Sponsor Sen. Cristina H. Pacione-Zayas
  4/30/2021SenateRule 2-10 Third Reading Deadline Established As May 7, 2021
  5/5/2021SenateAdded as Co-Sponsor Sen. Laura M. Murphy
  5/7/2021SenateRule 2-10 Committee/3rd Reading Deadline Established As May 21, 2021
  5/13/2021SenateAdded as Co-Sponsor Sen. Adriane Johnson
  5/21/2021SenateRule 2-10 Third Reading Deadline Established As May 31, 2021
  5/31/2021SenateRule 3-9(a) / Re-referred to Assignments
  7/16/2021SenateSenate Floor Amendment No. 2 Pursuant to Senate Rule 3-9(b) / Referred to Assignments
  1/10/2023SenateSession Sine Die

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