HB 4413
Revenue-affordable housing
Revenue-Affordable Housing
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
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.
Sponsors
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Primary sponsor
Dagmara Avelar
Cosponsors
Amy Briel
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