Illinois General Assembly - Full Text of HJR0087
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Full Text of HJR0087  100th General Assembly

HJ0087 100TH GENERAL ASSEMBLY


  

 


 
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1
HOUSE JOINT RESOLUTION

 
2    WHEREAS, The current version of the tax reform bill now
3before the United States Congress eliminates the Federal
4Historic Tax Credit (FHTC); and
 
5    WHEREAS, In Illinois, the FHTC helped finance 269 Federal
6Historic Tax Credit projects between fiscal year 2002 through
72016, resulting in over $3 billion in total development and
8over 45,000 jobs; and
 
9    WHEREAS, If the FHTC is eliminated, projects in Illinois
10that would be at risk include, the Lathrop Homes, the Old
11Chicago Post Office, the Old Cook County Hospital, the Overton
12School in Chicago, the Campana Building in Batavia, the Ziock
13Building in Rockford, the Kaskaskia Hotel in LaSalle, the 5th
14Avenue and Sears Roebuck and Co. Buildings in Moline, buildings
15in the Peoria Warehouse District, the Hotel Belleville in
16Belleville, and many more; and
 
17    WHEREAS, In addition, the State of Illinois River Edge
18Historic Tax Credit program must be paired with the FHTC; if
19the FHTC is eliminated, not only will critical revitalization
20projects in Aurora, Elgin, Peoria, and Rockford be at risk, but
21legislatively the state program will have to be amended and
22would not likely be able to make up the difference of lost

 

 

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1credits at the federal level; and
 
2    WHEREAS, The FHTC is not just about rehabilitating historic
3buildings it is a proven economic development tool and a local
4jobs creator; therefore, be it
 
5    RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE
6HUNDREDTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, THE SENATE
7CONCURRING HEREIN, that we urge Congress to retain the Federal
8Historic Tax Credit in whatever tax reform bill they pass; and
9be it further
 
10    RESOLVED, That suitable copies of this resolution be
11delivered to President Donald Trump, U.S. Senate Majority
12Leader Mitch McConnell, U.S. Senate Minority Leader Chuck
13Schumer, U.S. Speaker of the House Paul Ryan, U.S. House of
14Representatives Minority Leader Nancy Pelosi, and all members
15of the Illinois Congressional Delegation.