Illinois General Assembly - Bill Status for HB3582

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Bill Status of HB3582 97th General Assembly

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Short Description: INC TX-HISTORIC STRUCTURES

House Sponsors
Rep. Jehan A. Gordon and Charles E. Jefferson

Last Action

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

Statutes Amended In Order of Appearance

30 ILCS 105/5.786 new

35 ILCS 5/221 new

65 ILCS 115/10-2

65 ILCS 115/10-5.3

Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates a credit in an amount equal to 25% of qualified expenditures incurred by a qualified taxpayer during the taxable year in the restoration and preservation of a qualified historic structure located in a River Edge Redevelopment Zone pursuant to a qualified rehabilitation plan. Defines "qualified taxpayer, "qualified historic structure", and "qualified rehabilitation plan". Provides that the credit may be carried forward until the tenth taxable year after the qualified rehabilitation plan was placed in service. Amends the River Edge Redevelopment Zone Act. Provides that, until December 31, 2012, the Department may certify one additional River Edge Redevelopment Zone in the City of Peoria. Effective immediately.

Actions

Date	Chamber	Action
2/24/2011	House	Filed with the Clerk by Rep. Jehan A. Gordon
2/24/2011	House	First Reading
2/24/2011	House	Referred to Rules Committee
3/3/2011	House	Assigned to Revenue & Finance Committee
3/17/2011	House	Rule 19(a) / Re-referred to Rules Committee
3/1/2012	House	Added Co-Sponsor Rep. Charles E. Jefferson
1/8/2013	House	Session Sine Die

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