HB3403 Summary

• Amends the Illinois Housing Development Act's affordable housing tax donation credit program to require the administrative housing agency to establish a goal of awarding a specific amount of tax credits for donations to minority-owned businesses, women-owned businesses, or businesses owned by persons with disabilities.

• Defines these business categories according to the Business Enterprise for Minorities, Women, and Persons with Disabilities Act.

• Applies to donations made to sponsors that use funds for purchasing, constructing, or rehabilitating affordable housing projects, employer-assisted housing projects, general operating support, or technical assistance.