Bill Title: Amends the Illinois Income Tax Act. Provides that taxpayers of a qualified historic structure located in a River Edge Redevelopment Zone shall be allowed a tax credit against certain provisions of the Illinois Insurance Code during a 48-month period. Provides that a taxpayer is required to provide a third-party cost certification regarding costs attributable to the rehabilitation of a historic building when the costs exceed $200,000. Defines "phased rehabilitation" and "placed in service". Amends the Illinois Insurance Code. Makes conforming changes. Effective immediately.

Spectrum: Slight Partisan Bill (Democrat 14-8)

Status: (Passed) 2018-07-26 - Public Act . . . . . . . . . 100-0629 [SB3527 Detail]

Text: Latest bill text (Chaptered) [HTML]

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