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IL SB0240
Bill
Status
Introduced
1/22/2025
Primary Sponsor
Michael Halpin
Click for details
AI Summary
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Increases the annual Historic Preservation Tax Credit allocation from $25,000,000 to $75,000,000 for calendar years 2026 through 2028
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Maintains the current $25,000,000 annual allocation for calendar years 2024 and 2025
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Preserves the existing $3,000,000 cap on tax credits for any single qualified rehabilitation plan
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The State Historic Preservation Office within the Department of Natural Resources administers the credit allocations
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Takes effect immediately upon becoming law
Legislative Description
PRESERVATION TAX CREDIT
Last Action
Rule 3-9(a) / Re-referred to Assignments
6/2/2025
Committee Referrals
Assignments6/2/2025
Revenue1/28/2025
Assignments1/22/2025
Full Bill Text
No bill text available