Illinois SB 240: PRESERVATION TAX CREDIT
Status: Rule 3-9(a) / Re-referred to Assignments (as of 2025-06-02)
State: Illinois · Session: 104th · Bill: SB 240
Sponsors: Michael W. Halpin
Bill Text
• Illinois General Assembly - Full Text of SB0240 • • • • • • • • • • • • Select Language × The Illinois General Assembly offers the Google Translate™ service for visitor convenience. In no way should it be considered accurate as to the translation of any content herein. Visitors of the Illinois General Assembly website are encouraged to use other translation services available on the internet. The English language version is always the official and authoritative version of this website. NOTE: To return to the original English language version, select the "Show Original" button on the Google Translate™ menu bar at the top of the window. Choose Language English Afrikaans Albanian Arabic Armenian Azerbaijani Basque Bengali Bosnian Catalan Croatian Czech Danish Dutch Esperanto Estonian Filipino Finnish French Galician Georgian German Greek Gujarati Haitian Creole Hausa Hawaiian Hebrew Hindi Hungarian Icelandic Indonesian Interlingua Interlingue Inuktitut Irish Italian Japanese Javanese Kannada Khmer Korean Latin Latvian Lithuanian Luxembourgish Macedonian Malagasy Malayalam Maltese Maori Marathi Myanmar Nepali Norwegian Odia Pashto Punjabi Romanian Russian Samoan Sango Sanskrit Sardinian Sindhi Sinhala Slovak Slovenian Somali Southern Sotho Spanish Sundanese Swahili Swedish Tamil Telugu Thai Tigrinya Tonga Turkish Ukrainian Urdu Vietnamese Welsh Xhosa Yiddish Yoruba Zulu Powered by Translate Close Illinois General Assembly Top Navigation Bar Translate Learn Select General Assembly Search the 104th General Assembly Enter search terms for legislation, members, committees, or schedules. ILGA.GOV • • LEGISLATION & LAWS • Bills & Resolutions • Public Acts • Illinois Compiled Statutes • Illinois Constitution • Search Legislation • Glossary • Guide • Reports & Inquiry • Legislative Reports • Special Reports • FTP Site • Legislator Lookup • Capitol Complex Phone Numbers • Rules & Regulations • Illinois Register • Administrative Rules • Senate • Members • Schedules • Committees • Request for Remote Testimony • Journals • Transcripts • Rules • Audio/Video • FOIA Information • Senate Employment Opportunities • Media Guidelines • House • Members • Schedules • Committees • Submit testimony for House Committees • Journals • Transcripts • Rules • Audio/Video • FOIA Information • House Employment Opportunities • Log In Mobile Top Bar Search the 104th General Assembly Enter keywords to search the Illinois General Assembly website. Full Text of SB0240 • Home • Legislation • Full Text SB0240 - 104th General Assembly • Bill Status • Full Text • Votes • Witness Slips Select Menu Bill Status Full Text Votes Witness Slips Printer Friendly Version Introduced Printer Friendly Version Introduced Open PDF 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB0240 Introduced 1/22/2025, by Sen. Michael W. Halpin SYNOPSIS AS INTRODUCED: 35 ILCS 31/20 Amends the Historic Preservation Tax Credit Act. Provides that, in calendar years beginning on or after January 1, 2026 and ending on or before December 31, 2028, the State Historic Preservation Office within the Department of Natural Resources may allocate $75,000,000 (currently, $25,000,000) in credits under the Act. Effective immediately. LRB104 06900 HLH 16936 b A BILL FOR SB0240LRB104 06900 HLH 16936 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 Historic Preservation Tax Credit Act is 5amended by changing Section 20 as follows: 6 (35 ILCS 31/20) 7 Sec. 20. Limitations, reporting, and monitoring. 8 (a) In each calendar year beginning on or after January 1, 92019 and ending on or before December 31, 2023, the Division is 10authorized to allocate $15,000,000 in tax credits in addition 11to any unallocated, returned, or rescinded allocations from 12previous years, pursuant to qualified rehabilitation plans. In 13each calendar year beginning on or after January 1, 2024 and 14ending on or before December 31, 2025, the Division is 15authorized to allocate $25,000,000 in tax credits in addition 16to any unallocated, returned, or rescinded allocations from 17previous years, pursuant to qualified rehabilitation plans. In 18each calendar year beginning on or after January 1, 2026 19January 1, 2024 and ending on or before December 31, 2028, the 20Division is authorized to allocate $75,000,000 $25,000,000 in 21tax credits in addition to any unallocated,
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