IL SB2444

Extends the Illinois tax credit for affordable housing donations from December 31, 2021 to December 31, 2026

Taxpayers who donate under Section 7.28 of the Illinois Housing Development Act receive a credit equal to 50% of the donation value against state income tax

Excess credits may be carried forward and applied to tax liability for up to 5 years following the year the credit exceeds tax liability

Credits can be transferred to purchasers of land designated for affordable housing projects or to other donors who have made qualifying donations

Takes effect immediately upon becoming law