Illinois General Assembly - Bill Status for HB0469
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 Bill Status of HB0469  102nd General Assembly


House Sponsors
Rep. Jay C. Hoffman

Last Action
DateChamber Action
  1/11/2011HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/218 new

Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates a tax credit, for taxable years ending on or after December 31, 2009, for taxpayers who make an eligible expenditure during the taxable year for the rehabilitation of a qualified historic building. Sets the credit at an amount equal to 25% of the total expenditures made during the taxable year for the rehabilitation. Defines "eligible expenditure" as an expenditure equal to at least 50% of the total basis in the property. Defines "qualified historic building" as a structure listed individually on the National Register of Historic Places, a contributing structure in a National Register historic district, or be located in a local historic district that is certified by the United States Department of the Interior. Provides that the credit may be carried back for 3 years or carried forward for 5 years. Exempts the credit from the Act's sunset provisions. Effective immediately.

DateChamber Action
  2/4/2009HouseFiled with the Clerk by Rep. Jay C. Hoffman
  2/4/2009HouseFirst Reading
  2/4/2009HouseReferred to Rules Committee
  2/9/2009HouseAssigned to Revenue & Finance Committee
  3/13/2009HouseRule 19(a) / Re-referred to Rules Committee
  1/11/2011HouseSession Sine Die

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