Illinois General Assembly - Bill Status for HB5730
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 Bill Status of HB5730  97th General Assembly


House Sponsors
Rep. Michael Halpin - Tony McCombie, Katie Stuart and Jerry Costello, II

Last Action
DateChamber Action
  1/8/2019HouseSession Sine Die

Statutes Amended In Order of Appearance
New Act
35 ILCS 5/227 new

Synopsis As Introduced
Creates the Bicentennial Mississippi River Region Redevelopment Historic Tax Credit Act. Provides that an income tax credit is granted to an eligible taxpayer who makes expenditures pursuant to a qualified rehabilitation plan for the rehabilitation of a historic structure located a qualified county. Provides that the credit is available for taxable years beginning on or after January 1, 2019 and ending on or before December 31, 2029. Provides that the credit is equal to 25% of the amount of the eligible expenditure. Contains provisions concerning eligible expenditures. Provides that eligible taxpayers must apply with the Department of Commerce and Economic Opportunity within 6 months after the effective date of the Act. Provides that the credit may be carried forward for up to 10 years and may be carried back for up to 3 years. Amends the Illinois Income Tax Act to make conforming changes. Effective immediately.

DateChamber Action
  2/16/2018HouseFiled with the Clerk by Rep. Michael Halpin
  2/16/2018HouseAdded Chief Co-Sponsor Rep. Tony McCombie
  2/16/2018HouseFirst Reading
  2/16/2018HouseReferred to Rules Committee
  2/22/2018HouseAdded Co-Sponsor Rep. Katie Stuart
  2/22/2018HouseAdded Co-Sponsor Rep. Jerry Costello, II
  3/5/2018HouseAssigned to Revenue & Finance Committee
  4/10/2018HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Michael Halpin
  4/10/2018HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  4/12/2018HouseTo Income Tax Subcommittee
  4/12/2018HouseHouse Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
  4/13/2018HouseRule 19(a) / Re-referred to Rules Committee
  4/13/2018HouseHouse Committee Amendment No. 1 Rule 19(a) / Re-referred to Rules Committee
  1/8/2019HouseSession Sine Die

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