Bill Status of HB3412  104th General Assembly

Short Description:  PRESERVING NEIGHBORHOODS ACT

House Sponsors
Rep. Amy Elik

Last Action
DateChamber Action
  3/21/2025HouseRule 19(a) / Re-referred to Rules Committee

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
  3/21/2025HouseRule 19(a) / Re-referred to Rules Committee