Illinois General Assembly - Bill Status for SB1692
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 Bill Status of SB1692  96th General Assembly


Senate Sponsors
Sen. Kirk W. Dillard

Last Action
DateChamber Action
  1/12/2011SenateSession Sine Die

Statutes Amended In Order of Appearance
20 ILCS 3405/14.1 new
35 ILCS 5/218 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.

DateChamber Action
  2/19/2009SenateFiled with Secretary by Sen. Kirk W. Dillard
  2/19/2009SenateFirst Reading
  2/19/2009SenateReferred to Assignments
  1/12/2011SenateSession Sine Die

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