Date	Chamber	Action
3/18/2005	Senate	Rule 3-9(a) / Re-referred to Rules

Statutes Amended In Order of Appearance

20 ILCS 3504/14.1 new

35 ILCS 5/216 new

Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates the rehabilitation of historic resource credit. Allows a credit against income taxes for 25% of the qualified expenditures for the rehabilitation of a historic resource. Provides that "historic resource" means certain publicly or privately owned historic buildings, structures, sites, objects, features, or open spaces located within a designated historic district or individually designated as historic. Provides that "qualified expenditures" means capital expenditures that qualify for a rehabilitation credit under Internal Revenue Code. Amends the Historic Preservation Agency Act to provide that the Historic Preservation Agency shall exercise all rights, powers, and duties set forth in the credit provisions. Effective immediately.

Actions 

Date	Chamber	Action
2/25/2005	Senate	Filed with Secretary by Sen. Kirk W. Dillard
2/25/2005	Senate	First Reading
2/25/2005	Senate	Referred to Rules
3/2/2005	Senate	Assigned to Revenue
3/9/2005	Senate	Added as Chief Co-Sponsor Sen. Don Harmon
3/10/2005	Senate	To Subcommittee
3/18/2005	Senate	Rule 3-9(a) / Re-referred to Rules

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