Illinois General Assembly - Bill Status for SB2629

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
1/21/2010	Senate	Filed with Secretary by Sen. Dale E. Risinger
1/21/2010	Senate	First Reading
1/21/2010	Senate	Referred to Assignments
2/10/2010	Senate	Assigned to Commerce
2/18/2010	Senate	Postponed - Commerce
2/23/2010	Senate	Added as Chief Co-Sponsor Sen. Pamela J. Althoff
3/8/2010	Senate	Rule 3-9(a) / Re-referred to Assignments
1/12/2011	Senate	Session Sine Die

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