INC TAX-HIST PRESERVATION CR House SponsorsRep. Thomas Holbrook-Daniel V. Beiser-Rich Brauer 1/13/2009HouseSession Sine Die 20 ILCS 3405/40 new35 ILCS 5/218 new Amends Historic Preservation Agency Act and the Illinois Income Tax Act. Requires the Historic Preservation Agency to authorize an income tax credit to taxpayers who incur eligible costs and expenses for rehabilitation of a certified historic structure or a structure in a certified historic district. Sets forth procedures and criteria for authorizing the credits. Provides that the aggregate amount of all credits that the Department may authorize in any calendar year may not exceed $40,000,000. Requires that 50% of the credits must be reserved for those rehabilitation projects incurring eligible costs and expenses of $1,000,000 or less and 25% must be reserved for those rehabilitation projects incurring eligible costs and expenses of $50,000 or less. Provides that the credit may be carried forward for 2 years. Exempts the credit from the Act's sunset provisions. Effective immediately. 2/22/2007HouseFiled with the Clerk by Rep. Thomas Holbrook 2/22/2007HouseFirst Reading 2/22/2007HouseReferred to Rules Committee 2/27/2007HouseAssigned to Revenue Committee 3/8/2007HouseAdded Chief Co-Sponsor Rep. Daniel V. Beiser 3/8/2007HouseAdded Chief Co-Sponsor Rep. Rich Brauer 3/23/2007HouseRule 19(a) / Re-referred to Rules Committee 1/13/2009HouseSession Sine Die