Bill Title: Creates the Historic Rehabilitation Tax Credit Act. Authorizes tax credits against Illinois income taxes and insurance company privilege taxes for 25% of the costs of rehabilitating certain historic property located in a River Edge Redevelopment Zone. Allows excess credits to be carried back and forward. Allows credits to be transferred, sold, or assigned. Administered by the Department of Commerce and Economic Opportunity. Sets forth application and award procedures. Effective immediately.

Spectrum: Slight Partisan Bill (Democrat 10-5)

Status: (Passed) 2011-07-28 - Public Act . . . . . . . . . 97-0203 [SB2168 Detail]

Text: Latest bill text (Chaptered) [HTML]

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