Bill Title: Amends the Historic Preservation Tax Credit Act. Provides that the aggregate amount of the credit may not exceed $3,000,000. Provides that credits may be awarded upon completion of the project and approval of a complete application (currently, review of the project). Provides that the taxpayer is not eligible to receive credits under that Act and as qualified River Edge Redevelopment Zone property for the same qualified expenditures or qualified rehabilitation plan. Makes various technical corrections concerning allocation of credits. Amends the Illinois Income Tax Act with respect to the Historic Preservation Tax Credit to include provisions concerning limited liability companies. Effective immediately.

Spectrum: Partisan Bill (Democrat 6-0)

Status: (Passed) 2022-05-06 - Public Act . . . . . . . . . 102-0741 [SB1711 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Chaptered	2022-05-09	HTML/Text	Link	View
Enrolled	2022-03-24	HTML/Text	Link	View
Engrossed	2021-04-23	HTML/Text	Link	View
Introduced	2021-02-26	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
Senate Amendment 001	2021-04-08	Proposed	HTML/Text	Link	View

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB1711 currently on file.

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