HISTORIC PRESERVATION CREDIT Senate SponsorsSen. Dale E. Risinger-Pamela J. Althoff 1/12/2011SenateSession Sine Die New Act35 ILCS 5/219 newCreates 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. 1/21/2010SenateFiled with Secretary by Sen. Dale E. Risinger 1/21/2010SenateFirst Reading 1/21/2010SenateReferred to Assignments 2/10/2010SenateAssigned to Commerce 2/18/2010SenatePostponed - Commerce 2/23/2010SenateAdded as Chief Co-Sponsor Sen. Pamela J. Althoff 3/8/2010SenateRule 3-9(a) / Re-referred to Assignments 1/12/2011SenateSession Sine Die