Illinois General Assembly - Bill Status for HB2078

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Bill Status of HB2078 9th General Assembly

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Short Description: HISTORIC PRESERVATION CREDIT

House Sponsors
Rep. Lou Lang

Last Action

Date	Chamber	Action
1/8/2013	House	Session Sine Die

Statutes Amended In Order of Appearance

New Act

35 ILCS 5/221 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.

Actions

Date	Chamber	Action
2/17/2011	House	Filed with the Clerk by Rep. Lou Lang
2/22/2011	House	First Reading
2/22/2011	House	Referred to Rules Committee
2/24/2011	House	Assigned to Revenue & Finance Committee
3/17/2011	House	Rule 19(a) / Re-referred to Rules Committee
1/8/2013	House	Session Sine Die

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