Illinois Senate Bill 1692 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 19 2009 - 25% progression, died in committee
Action: 2009-02-19 - Referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Income Tax Act. Creates the rehabilitation of historic resource credit. Allows a credit against income taxes for 25% of the qualified expenditures for the rehabilitation of a historic resource. Provides that "historic resource" means certain publicly or privately owned historic buildings, structures, sites, objects, features, or open spaces located within a designated historic district or individually designated as historic. Provides that "qualified expenditures" means capital expenditures that qualify for a rehabilitation credit under Internal Revenue Code. Amends the Historic Preservation Agency Act to provide that the Historic Preservation Agency shall exercise all rights, powers, and duties set forth in the credit provisions. Effective immediately.

STATE GOVERNMENT-TECH

Sen. Kirk Dillard [R]

Date	Chamber	Action
2009-02-19		Referred to Assignments
2009-02-19		First Reading
2009-02-19		Filed with Secretary by Sen. Kirk W. Dillard

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1692&GAID=10&DocTypeID=SB&SessionID=76&GA=96
Text	https://www.ilga.gov/legislation/96/SB/09600SB1692.htm