IL SB1711 | 2021-2022 | 102nd General Assembly

Status

Completed Legislative Action
Spectrum: Partisan Bill (Democrat 6-0)
Status: Passed on May 6 2022 - 100% progression
Action: 2022-05-06 - Public Act . . . . . . . . . 102-0741
Text: Latest bill text (Chaptered) [HTML]

Summary

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.

Tracking Information

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Title

INC TX-HISTORIC PRESERVATION

Sponsors


Roll Calls

2022-03-23 - House - Third Reading in House (Y: 112 N: 0 NV: 0 Abs: 2) [PASS]
2021-04-23 - Senate - Third Reading in Senate (Y: 58 N: 0 NV: 1 Abs: 0) [PASS]

History

DateChamberAction
2022-05-06SenatePublic Act . . . . . . . . . 102-0741
2022-05-06SenateEffective Date May 6, 2022
2022-05-06SenateGovernor Approved
2022-04-21SenateSent to the Governor
2022-03-23SenatePassed Both Houses
2022-03-23HouseThird Reading - Short Debate - Passed 112-000-000
2022-03-22HousePlaced on Calendar Order of 3rd Reading - Short Debate
2022-03-22HouseSecond Reading - Short Debate
2022-02-18HousePlaced on Calendar 2nd Reading - Short Debate
2022-02-17HouseDo Pass / Short Debate Revenue & Finance Committee; 018-000-000
2022-02-17HouseReported Back To Revenue & Finance Committee;
2022-02-17HouseRecommends Do Pass Subcommittee/ Revenue & Finance Committee; 006-000-000
2022-02-03HouseTo Income Tax Subcommittee
2022-01-11HouseAssigned to Revenue & Finance Committee
2021-05-15HouseRule 19(a) / Re-referred to Rules Committee
2021-05-05HouseAssigned to Revenue & Finance Committee
2021-05-04HouseReferred to Rules Committee
2021-05-04HouseFirst Reading
2021-05-04HouseChief House Sponsor Rep. Maura Hirschauer
2021-04-26HouseArrived in House
2021-04-23SenateThird Reading - Passed; 058-000-000
2021-04-22SenateAdded as Co-Sponsor Sen. Karina Villa
2021-04-22SenateAdded as Co-Sponsor Sen. Celina Villanueva
2021-04-22SenateAdded as Co-Sponsor Sen. Mattie Hunter
2021-04-21SenateAdded as Co-Sponsor Sen. Elgie R. Sims, Jr.
2021-04-20SenatePlaced on Calendar Order of 3rd Reading April 21, 2021
2021-04-20SenateSecond Reading
2021-04-15SenatePlaced on Calendar Order of 2nd Reading April 20, 2021
2021-04-15SenateDo Pass as Amended Revenue; 008-000-000
2021-04-14SenateSenate Committee Amendment No. 1 Adopted
2021-04-13SenateSenate Committee Amendment No. 1 Assignments Refers to Revenue
2021-04-08SenateSenate Committee Amendment No. 1 Referred to Assignments
2021-04-08SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Cristina Castro
2021-03-09SenateAssigned to Revenue
2021-02-26SenateReferred to Assignments
2021-02-26SenateFirst Reading
2021-02-26SenateFiled with Secretary by Sen. Cristina Castro

Code Citations

ChapterArticleSectionCitation TypeStatute Text
353110Amended CodeCitation Text
353120Amended CodeCitation Text
353125Amended CodeCitation Text
35315Amended CodeCitation Text
355228Amended CodeCitation Text

Illinois State Sources


Bill Comments

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