Bill Status of SB 1592   93rd General Assembly

Short Description:  INC TAX-HOUSING DEV CREDIT

Senate Sponsors
Sen. Todd Sieben-William E. Peterson

House Sponsors
(Rep. Jim Sacia)


Last Action  View All Actions

DateChamber Action
  1/11/2005SenateTotal Veto Stands

Statutes Amended In Order of Appearance
20 ILCS 3805/7.28
35 ILCS 5/214

Synopsis As Introduced
Amends the Illinois Housing Development Act. Makes changes in the definitions of "affordable housing project" and "sponsor". Defines "project" to mean an affordable housing project, an employer-assisted affordable housing project, general operating support, or technical assistance. Defines "tax credit" as a tax credit allowed under Section 214 of the Illinois Income Tax Act. Provides that a sponsor must apply to an administrative housing agency for approval of a project (now, must apply to the agency that administers the program). Provides that the agency must reserve a specific amount of tax credits for each approved project (now, must reserve the credits for each approved affordable housing project for 24 months after it is approved and the sponsor must receive an eligible donation within that time in order to receive the credit). Provides that tax credits for general operating support can only be reserved as part of a reservation of tax credits for another type of project. Allows tax credits only where an administrative housing agency has reserved tax credits for the project. Limits tax credits for general operating support to 10% of the total tax credit reservation for the related project (now, limited to 10% of the total tax credit allocation for the project). Allows an administrative housing agency to reserve tax credits for any approved projects if the agency is unable to reserve the tax credits set-aside for employer-assisted housing projects and general operating support. Amends the Illinois Income Tax Act. Provides that persons or entities not subject to the tax and who make a donation under the Illinois Housing Development Act are entitled to receive and to transfer a tax credit for affordable housing donations. Makes other changes. Effective immediately.

 Fiscal Note (Department of Revenue)
 This bill will have little to no additional impact. The provision in the bill stating that an exempt organization may make a donation and sell the resulting credit is merely a codification of current practice.

 Fiscal Note (Housing Development Authority)
 No fiscal impact.

 Fiscal Note (H-AM 2)(Department of Revenue)
 Senate Bill 1592, as amended by House Amendment 2, will have minimal fiscal impact on the Department of Revenue.

 State Mandates Fiscal Note (H-AM 2)(Dept. of Commerce and Economic Opportunity)
 SB 1592 (HA #2) creates a tax exemption mandate for which 100% of the increased costs to units of local government is required under the State Mandates Act. An estimate of the increased costs to the units of local government affected is not available. However, the legislation contains a provision which states that no reimbursement by the State is required.

 Home Rule Note (H-AM 2)(Dept. of Commerce and Economic Opportunity)
 SB 1592 (HA #2) does not pre-empt home rule authority.

House Amendment No. 3
Deletes reference to:
20 ILCS 3805/7.28
35 ILCS 5/214
Adds reference to:
35 ILCS 200/18-185

Deletes everything after the enacting clause. Amends the Property Tax Extension Limitation Law in the Property Tax Code. In certain non-home rule taxing districts in which the voters have approved a referendum making the Property Tax Extension Limitation Law applicable, exempts from the extension limitation those extensions made for payments of principal and interest on bonds issued before July 1, 2005 by any school district on the State Board of Education's Financial Warning List for the purpose of financing a retrofit program to replace steam pipes. Effective immediately.

Actions 
DateChamber Action
  2/20/2003SenateFiled with Secretary by Sen. Jacqueline Y. Collins
  2/20/2003SenateFirst Reading
  2/20/2003SenateReferred to Rules
  2/27/2003SenateAssigned to Executive
  3/6/2003SenatePostponed - Executive
  3/13/2003SenateDo Pass Executive; 010-000-003
  3/13/2003SenatePlaced on Calendar Order of 2nd Reading March 18, 2003
  3/18/2003SenateFiscal Note Requested by Sen. Peter J. Roskam
  3/24/2003SenateFiscal Note Filed
  3/25/2003SenateSecond Reading
  3/25/2003SenatePlaced on Calendar Order of 3rd Reading March 26, 2003
  3/26/2003SenateAdded as Chief Co-Sponsor Sen. William E. Peterson
  3/26/2003SenateFiscal Note Filed Illinois Housing Development Authority
  4/4/2003SenateThird Reading Deadline Extended - Rule 2-10(e) to April 9, 2003.
  4/8/2003SenateThird Reading - Passed; 050-000-000
  4/8/2003HouseArrived in House
  4/8/2003HousePlaced on Calendar Order of First Reading
  4/14/2003HouseChief House Sponsor Rep. Barbara Flynn Currie
  4/14/2003HouseFirst Reading
  4/14/2003HouseReferred to Rules Committee
  4/15/2003HouseAssigned to Revenue Committee
  5/1/2003HouseDo Pass / Short Debate Revenue Committee; 009-000-000
  5/1/2003HousePlaced on Calendar 2nd Reading - Short Debate
  5/15/2003HouseSecond Reading - Short Debate
  5/15/2003HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/16/2003HouseCommittee/3rd Reading Deadline Extended-Rule 9(b); May 23, 2003
  5/23/2003HouseThird Reading/Final Action Deadline Extended-9(b) May 31, 2003
  6/1/2003HouseRule 19(a) / Re-referred to Rules Committee
  11/19/2003HouseApproved for Consideration Rules Committee; 003-002-000
  11/19/2003HousePlaced on Calendar 2nd Reading - Short Debate
  11/19/2003HouseHouse Amendment No. 1 Filed with Clerk by Rep. Lou Lang
  11/19/2003HouseHouse Amendment No. 1 Referred to Rules Committee
  11/21/2003HouseAlternate Chief Sponsor Changed to Rep. Lou Lang
  11/21/2003HouseFiscal Note Filed as amended by HA #2
  11/21/2003HouseHouse Amendment No. 2 Filed with Clerk by Rep. Lou Lang
  11/21/2003HouseHouse Amendment No. 2 Referred to Rules Committee
  11/21/2003HouseState Mandates Fiscal Note Filed as amended by HA #2
  11/21/2003HouseHome Rule Note Filed as amended by HA #2
  12/22/2003HouseRule 19(b) / Re-referred to Rules Committee
  5/25/2004HouseApproved for Consideration Rules Committee; 003-002-000
  5/25/2004HousePlaced on Calendar 2nd Reading - Short Debate
  5/26/2004HouseHouse Amendment No. 3 Filed with Clerk by Rep. Jim Sacia
  5/26/2004HouseHouse Amendment No. 3 Referred to Rules Committee
  5/27/2004HouseCommittee/3rd Reading Deadline Extended-Rule 9(b) May 31, 2004
  5/27/2004HouseHouse Amendment No. 3 Rules Refers to Elementary and Secondary Education Committee
  5/28/2004HouseHouse Amendment No. 3 Recommends Be Adopted Elementary and Secondary Education Committee; 017-000-000
  5/28/2004HouseAlternate Chief Sponsor Changed to Rep. Jim Sacia
  5/28/2004HouseSecond Reading - Short Debate
  5/28/2004HouseHouse Amendment No. 3 Adopted by Voice Vote
  5/28/2004HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/28/2004HouseThird Reading - Short Debate - Passed 068-044-000
  5/28/2004HouseHouse Amendment No. 1 Tabled Pursuant to Rule 40(a)
  5/28/2004HouseHouse Amendment No. 2 Tabled Pursuant to Rule 40(a)
  5/28/2004SenateChief Sponsor Changed to Sen. Todd Sieben
  5/28/2004SenateSecretary's Desk - Concurrence House Amendment(s) 03
  5/28/2004SenatePlaced on Calendar Order of Concurrence House Amendment(s) 03 - May 29, 2004.
  5/28/2004SenateHouse Amendment No. 3 Motion to Concur Filed with Secretary Sen. Todd Sieben
  5/28/2004SenateHouse Amendment No. 3 Motion to Concur Referred to Rules
  5/31/2004SenateHouse Amendment No. 3 Motion to Concur Rules Referred to Revenue
  5/31/2004SenateHouse Amendment No. 3 Motion to Concur Be Approved for Consideration Revenue; 007-001-000
  8/24/2004SenatePursuant to Senate Rule 3-9(b) / Referred to Rules
  8/24/2004SenateHouse Amendment No. 3 Motion to Concur-Pursuant to Senate Rule 3-9(b)-Referred to Rules.
  11/10/2004SenateApproved for Consideration Rules
  11/10/2004SenatePlaced on Calendar Order of Concurrence House Amendment(s) 03
  11/10/2004SenateHouse Amendment No. 3 Motion to Concur Be Approved for Consideration Rules
  11/10/2004Senate3/5 Vote Required
  11/10/2004SenateHouse Amendment No. 3 Senate Concurs 045-012-000
  11/10/2004SenatePassed Both Houses
  12/9/2004SenateSent to the Governor
  1/7/2005SenateGovernor Vetoed
  1/10/2005SenatePlaced Calendar Total Veto January 11, 2005
  1/10/2005SenateMotion Filed Override Governor Veto Sen. Todd Sieben
  1/11/2005SenateTotal Veto Stands

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