Bill Text: IL HJR0087 | 2017-2018 | 100th General Assembly | Introduced
Bill Title: Urges Congress to retain the Federal Historic Tax Credit in whatever tax reform bill they pass.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2019-01-08 - Session Sine Die [HJR0087 Detail]
Download: Illinois-2017-HJR0087-Introduced.html
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1 | HOUSE JOINT RESOLUTION
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2 | WHEREAS, The current version of the tax reform bill now | ||||||
3 | before the United States Congress eliminates the Federal | ||||||
4 | Historic Tax Credit (FHTC); and
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5 | WHEREAS, In Illinois, the FHTC helped finance 269 Federal | ||||||
6 | Historic Tax Credit projects between fiscal year 2002
through | ||||||
7 | 2016, resulting in over $3 billion in total development and | ||||||
8 | over 45,000 jobs; and
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9 | WHEREAS, If the FHTC is eliminated, projects in Illinois | ||||||
10 | that would be at risk include, the Lathrop Homes, the Old
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11 | Chicago Post Office, the Old Cook County Hospital, the Overton | ||||||
12 | School in Chicago, the Campana Building in
Batavia, the Ziock | ||||||
13 | Building in Rockford, the Kaskaskia Hotel in LaSalle, the 5th | ||||||
14 | Avenue and Sears Roebuck and Co.
Buildings in Moline, buildings | ||||||
15 | in the Peoria Warehouse District, the Hotel Belleville in | ||||||
16 | Belleville, and many more; and
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17 | WHEREAS, In addition, the State of Illinois River Edge | ||||||
18 | Historic Tax Credit program must be paired with the
FHTC; if | ||||||
19 | the FHTC is eliminated, not only will critical revitalization | ||||||
20 | projects in Aurora, Elgin, Peoria, and
Rockford be at risk, but | ||||||
21 | legislatively the state program will have to be amended and | ||||||
22 | would not likely be
able to make up the difference of lost |
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1 | credits at the federal level; and
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2 | WHEREAS, The FHTC is not just about rehabilitating historic | ||||||
3 | buildings it is a proven economic development tool and a local | ||||||
4 | jobs creator; therefore, be it
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5 | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE | ||||||
6 | HUNDREDTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, THE SENATE | ||||||
7 | CONCURRING HEREIN, that we urge Congress to retain the Federal | ||||||
8 | Historic Tax Credit in whatever tax reform bill they pass; and | ||||||
9 | be it further
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10 | RESOLVED, That suitable copies of this resolution be | ||||||
11 | delivered to President Donald Trump, U.S. Senate Majority | ||||||
12 | Leader Mitch McConnell, U.S. Senate Minority Leader Chuck | ||||||
13 | Schumer, U.S. Speaker of the House Paul Ryan, U.S. House of | ||||||
14 | Representatives Minority Leader Nancy Pelosi, and all members | ||||||
15 | of the Illinois Congressional Delegation.
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