Illinois HB 1147: BUILD ILLINOIS HOMES ACT

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
HB1147

Introduced 1/9/2025, by Rep. Dagmara Avelar 

SYNOPSIS AS INTRODUCED:

New Act

35 ILCS 5/246 new

215 ILCS 5/409 from Ch. 73, par. 1021

215 ILCS 5/444 from Ch. 73, par. 1056

 Creates the Build Illinois Homes Tax Credit Act. Provides that owners of qualified low-income housing developments are eligible for credits against the taxes imposed by the Illinois Income Tax Act or taxes, penalties, fees, charges, and payments imposed by the Illinois Insurance Code. Amends the Illinois Income Tax Act and the Illinois Insurance Code to make conforming changes. Effective immediately.

LRB104 03040 HLH 15937 b

A BILL FOR

HB1147LRB104 03040 HLH 15937 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 1. Short title. This Act may be cited as the Build 

5Illinois Homes Tax Credit Act.

6 Section 5. Definitions. As used in this Act, unless the 

7context clearly requires otherwise:

8 "Allocation schedule certification" means a certification 

9issued by the owner of a qualified development, or by the 

10owner's designee, under subsection (d) of Section 15 of this 

11Act. The certification shall include the following:

12 (1) the building identification number for each 

13 building included in the qualified development;

14 (2) the calendar year in which the last building of 

15 the qualified development was placed in service;

16 (3) the amount of the credit allowed for each year of 

17 the credit period;

18 (4) the amount of credit allocated to each qualified 

19 taxpayer for the qualified development for the applicable 

20 tax year; and

21 (5) confirmation of whether each qualifie