IL HB3109

Amends the Illinois Income Tax Act to make the historic structure rehabilitation tax credit permanent, removing the expiration date of January 1, 2017.

Allows a 25% tax credit against income tax liability for qualified expenditures in restoring and preserving qualified historic structures, provided expenditures total at least $5,000 and exceed 50% of the property's purchase price.

Removes the requirement that qualified historic structures must be located in a River Edge Redevelopment Zone to be eligible for the credit.

Makes the credit exempt from Section 250 provisions and specifies the credit cannot reduce a taxpayer's liability below zero.

Requires applicants to obtain approval from the Department of Commerce and Economic Opportunity and the Historic Preservation Agency, which may collect an issuance fee up to 2% of the credited amount.