Illinois Senate Bill 1823 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 2-0)
Status: Engrossed on April 29 2021 - 50% progression, died in committee
Action: 2021-05-15 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Engrossed) [HTML]

Amends the Illinois Income Tax Act. Extends a tax credit allowable for qualified expenditures incurred by a qualified taxpayer in the restoration and preservation of a qualified historic structure located in a River Edge Redevelopment Zone to January 1, 2031 (currently, through January 1, 2022). Provides that, in order to qualify for such a tax credit, expenditures must: (i) equal $5,000 or more, (ii) exceed the adjusted basis of the qualified historic structure on the first day the qualified rehabilitation plan begins, and (iii) be a part of a qualified rehabilitation plan or phase of a qualified rehabilitation plan that received final approval to begin the expenditures no later than December 31, 2026 (currently, only (i) and (ii) are required). Effective immediately.

INC TX-RIVER EDGE REDEVELOP

Sen. David Koehler [D]

Rep. Jehan Gordon-Booth [D]

2021-04-29 - Senate - Third Reading in Senate (Y: 53 N: 0 NV: 6 Abs: 0) [PASS]

Date	Chamber	Action
2021-05-15	House	Rule 19(a) / Re-referred to Rules Committee
2021-05-05	House	Assigned to Revenue & Finance Committee
2021-05-04	House	Referred to Rules Committee
2021-05-04	House	First Reading
2021-05-03	House	Chief House Sponsor Rep. Jehan Gordon-Booth
2021-04-30	House	Arrived in House
2021-04-29	Senate	Senate Floor Amendment No. 2 Tabled Pursuant to Rule 5-4(a)
2021-04-29	Senate	Third Reading - Passed; 053-000-000
2021-04-29	Senate	Senate Floor Amendment No. 1 Adopted; Koehler
2021-04-29	Senate	Recalled to Second Reading
2021-04-27	Senate	Senate Floor Amendment No. 2 Assignments Refers to Revenue
2021-04-23	Senate	Rule 2-10 Third Reading Deadline Established As April 30, 2021
2021-04-22	Senate	Senate Floor Amendment No. 2 Referred to Assignments
2021-04-22	Senate	Senate Floor Amendment No. 2 Filed with Secretary by Sen. David Koehler
2021-04-21	Senate	Senate Floor Amendment No. 1 Recommend Do Adopt Revenue; 010-000-000
2021-04-20	Senate	Placed on Calendar Order of 3rd Reading April 21, 2021
2021-04-20	Senate	Second Reading
2021-04-20	Senate	Senate Floor Amendment No. 1 Assignments Refers to Revenue
2021-04-16	Senate	Senate Floor Amendment No. 1 Referred to Assignments
2021-04-16	Senate	Senate Floor Amendment No. 1 Filed with Secretary by Sen. David Koehler
2021-04-15	Senate	Placed on Calendar Order of 2nd Reading April 20, 2021
2021-04-15	Senate	Do Pass Revenue; 008-000-000
2021-03-09	Senate	Assigned to Revenue
2021-02-26	Senate	Referred to Assignments
2021-02-26	Senate	First Reading
2021-02-26	Senate	Filed with Secretary by Sen. David Koehler

Chapter	Article	Section	Citation Type	Statute Text
35	5	221	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1823&GAID=16&DocTypeID=SB&SessionID=110&GA=102
Text	https://www.ilga.gov/legislation/102/SB/10200SB1823.htm
Text	https://www.ilga.gov/legislation/102/SB/10200SB1823eng.htm
Amendment	https://www.ilga.gov/legislation/102/SB/10200SB1823sam001.htm
Amendment	https://www.ilga.gov/legislation/102/SB/10200SB1823sam002.htm
Roll Call	https://www.ilga.gov/legislation/votehistory/102/senate/10200SB1823_04292021_014000T.pdf