Illinois SB 3738: REVENUE-AFFORDABLE HOUSING

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
SB3738

Introduced 2/5/2026, by Sen. Mike Porfirio 

SYNOPSIS AS INTRODUCED:

20 ILCS 3805/7.28

35 ILCS 5/214

 Amends the Illinois Housing Development Act and the Illinois Income Tax Act. Provides that the amount of credits awarded under the affordable housing tax donation program is limited to $41,831,227 in State fiscal year 2027 and shall increase by 10% each fiscal year thereafter (currently, $32,850,352 in State fiscal years 2022 and 2023 increased by 5% each fiscal year thereafter). Provides that the affordable housing donation income tax credit applies through the taxable year ending on December 31, 2036 (currently, December 31, 2026). Effective immediately.

LRB104 17225 HLH 30646 b

A BILL FOR

SB3738LRB104 17225 HLH 30646 b

1 AN ACT concerning revenue.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Illinois Housing Development Act is amended 

5by changing Section 7.28 as follows:

6 (20 ILCS 3805/7.28)

7 Sec. 7.28. Tax credit for donation to sponsors. The 

8Authority may administer and adopt rules for an affordable 

9housing tax donation credit program to provide tax credits for 

10donations as set forth in this Section.

11 (a) In this Section:

12 "Administrative housing agency" means either the Authority 

13or an agency of the City of Chicago.

14 "Affordable housing project" means either:

15 (1) a rental project in which at least 25% of the units 

16 have rents (including tenant-paid heat) that do not 

17 exceed, on a monthly basis, maximum gross rent figures, as 

18 published by the Authority, that are: 

19 (i) based on data published annually by the U.S. 

20 Department of Housing