Date	Chamber	Action
1/13/2009	House	Session Sine Die

Statutes Amended In Order of Appearance

20 ILCS 3405/40 new

35 ILCS 5/218 new

Synopsis As Introduced
Amends Historic Preservation Agency Act and the Illinois Income Tax Act. Requires the Historic Preservation Agency to authorize an income tax credit to taxpayers who incur eligible costs and expenses for rehabilitation of a certified historic structure or a structure in a certified historic district. Sets forth procedures and criteria for authorizing the credits. Provides that the aggregate amount of all credits that the Department may authorize in any calendar year may not exceed $40,000,000. Requires that 50% of the credits must be reserved for those rehabilitation projects incurring eligible costs and expenses of $1,000,000 or less and 25% must be reserved for those rehabilitation projects incurring eligible costs and expenses of $50,000 or less. Provides that the credit may be carried forward for 2 years. Exempts the credit from the Act's sunset provisions. Effective immediately.

Actions 

Date	Chamber	Action
2/22/2007	House	Filed with the Clerk by Rep. Thomas Holbrook
2/22/2007	House	First Reading
2/22/2007	House	Referred to Rules Committee
2/27/2007	House	Assigned to Revenue Committee
3/8/2007	House	Added Chief Co-Sponsor Rep. Daniel V. Beiser
3/8/2007	House	Added Chief Co-Sponsor Rep. Rich Brauer
3/23/2007	House	Rule 19(a) / Re-referred to Rules Committee
1/13/2009	House	Session Sine Die

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