State of Illinois
2017 and 2018


Introduced , by Rep. Brian W. Stewart


35 ILCS 5/224 new

    Amends the Illinois Income Tax Act. Creates the Lincoln-Douglas Historic Tax Credit. Provides that a taxpayer is entitled to a credit of up to 25% of the qualified expenditures incurred by the taxpayer for a qualified rehabilitation of a historic structure located in a Lincoln-Douglas debate community. Effective immediately.

LRB100 10207 HLH 20389 b






HB3096LRB100 10207 HLH 20389 b

1    AN ACT concerning revenue.
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4    Section 5. The Illinois Income Tax Act is amended by adding
5Section 224 as follows:
6    (35 ILCS 5/224 new)
7    Sec. 224. Illinois Lincoln-Douglas Historic Tax Credit.
8    (a) The purpose of the tax credit under this Section is to
9assist in the advancement of Lincoln-related tourism through
10the development of historic preservation districts that are
11located in Illinois communities that hosted the historic
12Lincoln-Douglas Debates of 1858.
13    (b) For tax years ending on or after December 31, 2017, a
14taxpayer is entitled to a credit against the tax imposed by
15subsections (a) and (b) of Section 201 of this Act in an amount
16not to exceed 25% of the qualified expenditures incurred by the
17taxpayer for a qualified rehabilitation or development project
18of a certified historic structure located within a historic
19preservation district in a Lincoln-Douglas debate community.
20    For the purposes of this Section, a "Lincoln-Douglas debate
21community" includes the following municipalities: Ottawa,
22Freeport, Jonesboro, Charleston, Galesburg, Quincy, and Alton.
23    (c) The Department of Commerce and Economic Opportunity, in



HB3096- 2 -LRB100 10207 HLH 20389 b

1consultation with the Historic Preservation Agency, shall
2adopt any necessary rules and guidelines in order to administer
3the provisions of this Section.
4    (d) If the amount of the credit exceeds the tax liability
5for the year, the excess may be carried forward and applied to
6the tax liability of the 5 taxable years following the excess
7credit year. The tax credit shall be applied to the earliest
8year for which there is a tax liability. If there are credits
9for more than one year that are available to offset a
10liability, the earlier credit shall be applied first. In no
11event shall a credit under this Section reduce the taxpayer's
12liability to less than zero.
13    (e) This Section is exempt from the provisions of Section
15    Section 99. Effective date. This Act takes effect upon
16becoming law.