Illinois General Assembly

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 Bill Status of SB2559  96th General Assembly


Short Description:  HISTORIC PRESERVATION CREDIT

Senate Sponsors
Sen. Edward D. Maloney - Dale E. Risinger - Kwame Raoul - Don Harmon, Michael Noland, Iris Y. Martinez, Kirk W. Dillard, Mattie Hunter, Jeffrey M. Schoenberg, Pamela J. Althoff and Kyle McCarter

House Sponsors
(Rep. Greg Harris - Jehan A. Gordon - Jay C. Hoffman - Maria Antonia Berrios - Fred Crespo, Thomas Holbrook, Careen M. Gordon, Daniel V. Beiser, Michael K. Smith, Bill Mitchell, Karen A. Yarbrough, Lisa M. Dugan, Jack D. Franks, Kenneth Dunkin, Michael J. Zalewski and Mary E. Flowers)

Last Action
DateChamber Action
  1/27/2011SenatePublic Act . . . . . . . . . 96-1512

Statutes Amended In Order of Appearance
New Act
35 ILCS 5/219 new


Synopsis As Introduced
Creates the Historic Preservation Tax Credit Act. Provides for an income tax credit in an amount equal to 25% of qualified expenditures incurred by a qualified taxpayer for the restoration and preservation of a qualified historic structure. Provides that the credit may be carried forward for up to 10 years. Provides that the credit may be sold, assigned, conveyed, or transferred. Provides that the cumulative amount of credits awarded under the Act may not exceed $25,000,000 per year per county. Amends the Illinois Income Tax Act to make conforming changes. Effective immediately.

Senate Floor Amendment No. 1
Requires the qualified historic structure to be located in Illinois. Provides that unused credits may not be carried back to a tax year prior to the tax year in which the credit was issued. Provides that the cumulative amount allowable for credits awarded under the Act shall be limited to a maximum of $25,000,000 per year per county, based on the location of the approved project. Also makes a technical change.

House Committee Amendment No. 1
Deletes reference to:
35 ILCS 5/219 new
Adds reference to:
35 ILCS 200/21-150

Replaces everything after the enacting clause. Amends the Property Tax Code. Provides that, in Cook County, all applications for judgment and order of sale for taxes and special assessments on delinquent properties shall be made (i) by July 1, 2011 for tax year 2009 and (ii) within 90 days after the second installment due date for tax year 2010 and each tax year thereafter. Provides that, if if the collector is prevented from advertising and obtaining judgment by July 1, 2011 for tax year 2009, or within 90 days after the second installment due date for tax year 2010 and each tax year thereafter, the collector may obtain judgment at any time thereafter, but if the failure arises because of the county collector's failure to comply with any of the requirements of the Property Tax Code, then the county collector shall be held on his or her official bond for the full amount of all taxes and special assessments charged against him or her. Effective immediately.

Actions 
DateChamber Action
  1/13/2010SenateFiled with Secretary by Sen. David Koehler
  1/13/2010SenateFirst Reading
  1/13/2010SenateReferred to Assignments
  2/9/2010SenateAdded as Chief Co-Sponsor Sen. Dale E. Risinger
  2/10/2010SenateAssigned to Commerce
  2/18/2010SenatePostponed - Commerce
  2/18/2010SenateAdded as Co-Sponsor Sen. Michael Noland
  3/4/2010SenateDo Pass Commerce; 009-000-000
  3/4/2010SenatePlaced on Calendar Order of 2nd Reading March 9, 2010
  3/11/2010SenateSecond Reading
  3/11/2010SenatePlaced on Calendar Order of 3rd Reading March 12, 2010
  3/12/2010SenateAdded as Chief Co-Sponsor Sen. Kwame Raoul
  3/12/2010SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. David Koehler
  3/12/2010SenateSenate Floor Amendment No. 1 Referred to Assignments
  3/16/2010SenateSenate Floor Amendment No. 1 Assignments Refers to Commerce
  3/16/2010SenateAdded as Chief Co-Sponsor Sen. Don Harmon
  3/17/2010SenateAdded as Co-Sponsor Sen. Iris Y. Martinez
  3/17/2010SenateSenate Floor Amendment No. 1 Recommend Do Adopt Commerce; 009-000-000
  3/17/2010SenateAdded as Co-Sponsor Sen. Kirk W. Dillard
  3/18/2010SenateAdded as Co-Sponsor Sen. Mattie Hunter
  3/18/2010SenateAdded as Co-Sponsor Sen. Jeffrey M. Schoenberg
  3/18/2010SenateAdded as Co-Sponsor Sen. Pamela J. Althoff
  3/18/2010SenateAdded as Co-Sponsor Sen. Kyle McCarter
  3/18/2010SenateRecalled to Second Reading
  3/18/2010SenateSenate Floor Amendment No. 1 Adopted; Koehler
  3/18/2010SenatePlaced on Calendar Order of 3rd Reading
  3/18/2010SenateThird Reading - Passed; 048-006-000
  3/18/2010HouseArrived in House
  3/18/2010HouseChief House Sponsor Rep. Greg Harris
  3/18/2010HousePlaced on Calendar Order of First Reading
  3/18/2010HouseFirst Reading
  3/18/2010HouseReferred to Rules Committee
  3/22/2010HouseAdded Alternate Chief Co-Sponsor Rep. Jehan A. Gordon
  3/24/2010HouseAdded Alternate Chief Co-Sponsor Rep. Dave Winters
  3/25/2010HouseAdded Alternate Chief Co-Sponsor Rep. Jay C. Hoffman
  3/25/2010HouseAdded Alternate Chief Co-Sponsor Rep. Maria Antonia Berrios
  3/25/2010HouseAdded Alternate Co-Sponsor Rep. Thomas Holbrook
  3/25/2010HouseAdded Alternate Co-Sponsor Rep. Careen M. Gordon
  3/25/2010HouseAdded Alternate Co-Sponsor Rep. Daniel V. Beiser
  3/25/2010HouseAdded Alternate Co-Sponsor Rep. Michael K. Smith
  3/25/2010HouseAdded Alternate Co-Sponsor Rep. Bill Mitchell
  3/25/2010HouseAdded Alternate Co-Sponsor Rep. Karen A. Yarbrough
  3/25/2010HouseAdded Alternate Co-Sponsor Rep. Lisa M. Dugan
  3/25/2010HouseAdded Alternate Co-Sponsor Rep. Jack D. Franks
  4/2/2010HouseAdded Alternate Co-Sponsor Rep. Kenneth Dunkin
  4/8/2010HouseAssigned to Revenue & Finance Committee
  4/22/2010HouseAdded Alternate Co-Sponsor Rep. Michael J. Zalewski
  4/23/2010HouseRule 19(a) / Re-referred to Rules Committee
  11/23/2010HouseFinal Action Deadline Extended-9(b) January 11, 2011
  11/23/2010HouseAssigned to Revenue & Finance Committee
  11/29/2010HouseAdded Alternate Co-Sponsor Rep. Mary E. Flowers
  11/30/2010HouseHouse Committee Amendment No. 1 Filed with Clerk by Revenue & Finance Committee
  11/30/2010HouseHouse Committee Amendment No. 1 Adopted in Revenue & Finance Committee; by Voice Vote
  11/30/2010HouseDo Pass as Amended / Short Debate Revenue & Finance Committee; 009-000-000
  11/30/2010HousePlaced on Calendar 2nd Reading - Short Debate
  11/30/2010HouseSecond Reading - Short Debate
  11/30/2010HousePlaced on Calendar Order of 3rd Reading - Short Debate
  11/30/2010HouseAlternate Chief Co-Sponsor Removed Rep. Dave Winters
  12/1/2010HouseThird Reading - Short Debate - Passed 101-013-000
  12/1/2010HouseAdded Alternate Chief Co-Sponsor Rep. Fred Crespo
  12/1/2010SenateChief Sponsor Changed to Sen. Edward D. Maloney
  12/1/2010SenateSecretary's Desk - Concurrence House Amendment(s) 1
  12/1/2010SenatePlaced on Calendar Order of Concurrence House Amendment(s) 1 - December 2, 2010
  12/1/2010SenateHouse Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Edward D. Maloney
  12/1/2010SenateHouse Committee Amendment No. 1 Motion to Concur Referred to Assignments
  12/1/2010SenateHouse Committee Amendment No. 1 Motion to Concur Assignments Referred to Revenue
  12/1/2010SenateHouse Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Revenue; 007-000-000
  12/1/2010SenateHouse Committee Amendment No. 1 3/5 Vote Required
  12/1/2010SenateHouse Committee Amendment No. 1 Senate Concurs 056-000-000
  12/1/2010SenatePassed Both Houses
  12/17/2010SenateSent to the Governor
  1/27/2011SenateGovernor Approved
  1/27/2011SenateEffective Date January 27, 2011
  1/27/2011SenatePublic Act . . . . . . . . . 96-1512

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