Senate Sponsors: PETERSON-RONEN-HENDON-OBAMA-SILVERSTEIN, JACOBS AND RADOGNO. House Sponsors: TURNER,ART-CURRIE-ERWIN-YARBROUGH-YOUNGE Short description: INC TAX-HOUSING DEVELOP CREDIT Synopsis of Bill as introduced: Amends the Illinois Income Tax Act and the Housing Authorities Act. Allows taxpayers making donations to certain affordable housing projects to take a tax credit for those donations. Allows the credit to be carried forward. Allows the Illinois Housing Development Authority to reserve a specific amount of tax credits for approved affordable housing projects. Requires the Illinois Housing Development Authority to set eligibility criteria for the credits. Limits the amount of credits that may be used for employer-assisted housing projects. Contains other provisions. Effective immediately. SENATE AMENDMENT NO. 1. Deletes reference to: 310 ILCS 10/8.24 new Adds reference to: 20 ILCS 3805/7.28 new Deletes everything after the enacting clause. Reinserts the bill as introduced but removes the provisions amending the Housing Authorities Act and adds those amendatory provisions to the Illinois Housing Development Act instead. Provides that the Illinois Housing Development Authority may administer and adopt rules for an affordable housing tax donation credit program to provide tax credits for donations to sponsors of affordable housing projects. Changes the term "housing authority" to "administrative housing agency" and provides that, in addition to the Illinois Housing Development Authority, this term means an agency of the City of Chicago rather than the Department of Housing of the City of Chicago. Effective immediately. HOUSE AMENDMENT NO. 1. (House recedes May 30, 2001) Deletes reference to: 20 ILCS 3805/7.28 new Deletes everything after the enacting clause. Amends the Illinois Income Tax Act. Adds a provision, containing a caption only, concerning tax credits for affordable housing donations. Last action on Bill: PUBLIC ACT.............................. 92-0491 Last action date: AUG-23-2001 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 1 END OF INQUIRY Full Text Bill Status