Bill Status of SB 2629   96th General Assembly

Short Description:  HISTORIC PRESERVATION CREDIT

Senate Sponsors
Sen. Dale E. Risinger-Pamela J. Althoff

Last Action  View All Actions

DateChamber Action
  1/12/2011SenateSession Sine Die

Statutes Amended In Order of Appearance
New Act
35 ILCS 5/219 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 
DateChamber Action
  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

Back To Top