Date	Chamber	Action
1/13/2021	Senate	Session Sine Die

Statutes Amended In Order of Appearance

New Act

30 ILCS 605/7.1

from Ch. 127, par. 133b10.1

35 ILCS 5/229 new

215 ILCS 5/409.2 new

Synopsis As Introduced
Creates the Illinois State Property Revitalization Tax Credit Act. Creates a credit against taxes imposed under the Illinois Income Tax Act and the Illinois Insurance Code in an amount equal to 30% of qualified expenditures incurred by a qualified taxpayer in the rehabilitation of certain property that had been owned by the State. Provides that credits must be approved by the Department of Commerce and Economic Opportunity. Provides that credits may be transferred and assigned. Contains provisions concerning application fees. Amends the Illinois Income Tax Act and the Illinois Insurance Code to make conforming changes. Amends the State Property Control Act. Makes changes to provisions concerning surplus real property. Effective immediately.

Actions 

Date	Chamber	Action
2/15/2019	Senate	Filed with Secretary by Sen. Steve McClure
2/15/2019	Senate	First Reading
2/15/2019	Senate	Referred to Assignments
3/5/2019	Senate	Assigned to Revenue
3/22/2019	Senate	Rule 2-10 Committee Deadline Established As March 28, 2019
3/28/2019	Senate	Rule 3-9(a) / Re-referred to Assignments
1/13/2021	Senate	Session Sine Die

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