Illinois General Assembly - Bill Status for HB3412
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 Bill Status of HB3412  104th General Assembly


Short Description:  PRESERVING NEIGHBORHOODS ACT

House Sponsors
Rep. Amy Elik

Hearings
Tax Policy: Other Taxes Subcommittee Hearing Mar 20 2025 8:08AM Capitol Building 114 and Virtual Room 1 Springfield, IL
Tax Policy: Other Taxes Subcommittee Hearing Mar 20 2025 2:08PM Stratton Building Room D-1 Springfield, IL
Revenue & Finance Committee Hearing Mar 20 2025 8:00AM Capitol Building 114 and Virtual Room 1 Springfield, IL
Revenue & Finance Committee Hearing Mar 20 2025 2:00PM Stratton Building Room D-1 Springfield, IL


Last Action
DateChamber Action
  3/13/2025HouseTo Tax Policy: Other Taxes Subcommittee

Statutes Amended In Order of Appearance
New Act
35 ILCS 5/246 new


Synopsis As Introduced
Creates the Preserving Illinois Neighborhoods Act. Provides that, for taxable years that begin on or after January 1, 2026 and end on or before December 31, 2031, qualified taxpayers who incur qualified new construction expenditures or qualified rehabilitation expenditures during the taxable year are entitled to a credit. Effective immediately.

Actions 
DateChamber Action
  2/7/2025HouseFiled with the Clerk by Rep. Amy Elik
  2/18/2025HouseFirst Reading
  2/18/2025HouseReferred to Rules Committee
  3/11/2025HouseAssigned to Revenue & Finance Committee
  3/13/2025HouseTo Tax Policy: Other Taxes Subcommittee

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