Illinois Senate Bill 2629 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on January 21 2010 - 25% progression, died in committee
Action: 2010-03-08 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

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.

HISTORIC PRESERVATION CREDIT

Sen. Pamela Althoff [R]

Sen. Dale Risinger [R]

Date	Chamber	Action
2010-03-08		Rule 3-9(a) / Re-referred to Assignments
2010-02-23		Added as Chief Co-Sponsor Sen. Pamela J. Althoff
2010-02-18		Postponed - Commerce
2010-02-10		Assigned to Commerce
2010-01-21		Referred to Assignments
2010-01-21		First Reading
2010-01-21		Filed with Secretary by Sen. Dale E. Risinger

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2629&GAID=10&DocTypeID=SB&SessionID=76&GA=96
Text	https://www.ilga.gov/legislation/96/SB/09600SB2629.htm