Illinois Association of
National Trust for
Historic Tax Credit
Strengthening Illinois’ Economy by Reinvesting
in Historic Places
September 18, 2014 –Today Congressman Aaron Schock
(R-IL), reintroduced into the House of Representatives
the bipartisan “Creating American Prosperity through
Preservation” (CAPP) Act, to improve the Federal
Historic Rehabilitation Tax Credit (HTC) and make it
easier to rehabilitate historic buildings. Earl
Blumenauer (D-Ore.), Mike Kelly (R-Penn.), and Ron Kind
(D-Wis.) co-sponsored the bill.
“We included the Federal Historic Rehabilitation Tax
Credit on our annual
Statewide Most Endangered List as a
special ‘issue’ designation because the protection and
improvement of this economic incentive is vital for not
only historic preservation in Illinois, but throughout
the country,” said Bonnie McDonald, President of
Landmarks Illinois. “We are extremely thankful that
Congressman Schock continues to advocate for this
federal incentive, despite a recent recommendation for
its elimination from the tax code as part of tax reform.
Since 2002 in Illinois, the FHTC has generated over $2.3
billion in private development investment and helped
create over 22,000 jobs.”
On February 26th, the chairman of the House Ways and
Means Committee – Rep. Dave Camp (R-MI) – released a
draft of his proposed
Tax Reform Act of 2014 that calls
for the elimination of the HTC program. Representatives
Schock, Blumenauer, Kelly and Kind all serve on the
House Ways and Means Committee.
Recently, the National Park Service (NPS) released the
Annual Economic Impact Report of the Federal Historic
Tax Credit for FY 2013. The report found that in FY 2013
the HTC leveraged an estimated $3.8 billion of private
investment in historic rehabilitation, produced 62,900
jobs, and contributed over $7.1 billion in output to the
national economy and $3.6 billion in GDP.
Landmarks Illinois is currently hosting a series of
workshops on the benefits of the Federal Historic
Rehabilitation Tax Credit program and the need for a
statewide historic tax credit program. Remaining
workshops will be held in
Springfield on September 29
Lake Forest on September 30. More information on the
workshop series is available at
February 4, 2014 - Representative Frank Mautino,
D-Spring Valley, introduced HB 4533, the
Illinois Rehabilitation and Revitalization Tax Credit
Act, in support of a statewide historic tax credit
program. This legislation replicates SB 336, sponsored
by Senator Andy Manar, D-Bunker Hill, which passed out
of the Illinois Senate in 2013.
Please urge your state representative to sign-on as a
sponsor of HB 4533.
October 21, 2013 –
State Historic Tax
Economic Credit Study released, click here
to view. This report, which examines the potential
rehabilitation of historic buildings using a proposed
20% statewide historic tax credit, found that:
A statewide historic tax credit would pay for itself and
create jobs across the state.
The existing River’s Edge Historic Tax Credit, available
only in 5 cities, is not sufficient for attracting
investment and creating jobs statewide.
The state would receive revenues before it would
allocate tax credits to historic rehabilitation
A historic tax credit would be immediately accessible to
eligible properties in communities across the entire
Illinois Rehabilitation & Revitalization Tax
Credit (SB 336)
Summer 2013 - Despite strong support in the State
Senate, which passed SB 336 on April 24th by a vote of
46-8, SB 336 was not approved by the House. The credit
would encourage private investment in historic
properties and create jobs and economic development in
urban, suburban, and rural communities across Illinois.
But the Governor’s office and other top lawmakers in the
House were unwilling to push the legislation, citing the
State’s pension and economic problems. In the meantime,
the states of Alabama and Texas passed new state tax
credit programs and Connecticut, Iowa, Louisiana,
Maryland, Minnesota and New York made improvements to
their programs. This will be a priority issue for the
Historic Preservation Caucus, chaired by Sen. Pamela
Althoff, R-McHenry, Sen. Andy Manar, D-Bunker Hill, Rep.
Rich Brauer, R- Springfield, and Rep. Jerry Costello II,
Wednesday, May 8, 2013 – Landmarks Illinois and AIA
Illinois testified before the House Revenue and Finance
Committee on SB336, the Illinois Rehabilitation and
Revitalization Tax Credit, during a subject matter
hearing on enterprise zones and tax incentives. The bill
must pass out of the House Rules Committee in order to
have a formal public hearing ending with a vote or the
Committee could chose to include the measure as part of
an Omnibus Tax Bill.
What can you do? Please contact your
Illinois State Representative to urge his or her support
for including the Illinois Rehabilitation and
Revitalization Tax Credit [SB336] as part of a final
omnibus tax proposal.
Click here to locate your Representative’s contact
Monday, April 29, 2013 – SB336 was passed over from the
Senate to the House of Representative and referred to
the Rules Committee.
Wednesday, April 24, 2013 - Thanks to the support of
the many of you who called your Senator, today the Illinois Senate
passed SB336 - the Illinois Rehabilitation and
Revitalization Tax Credit - by a strong vote of 46 to 8.
The bill will now move over to the Illinois House of
Representatives for consideration. To see how your State
Wednesday, April 17, 2013 – SB336, as amended, was
re-referred to the Senate Revenue Committee and passed
by a vote of 9-3 to head for a final vote before the
full Senate. Yes votes: Senators Hutchinson, Noland,
Althoff, Bush, Jones, Kotowski, McGuire, Murphy, and
Sullivan. No votes: Senators Duffy, Landek, and
Wednesday, March 20, 2013 – SB336 has passed the Senate
Revenue Committee with a vote of 8-2-1 and is headed to
the Senate Floor. Yes votes: Senators Hutchinson,
Noland, Althoff, Bush, Biss (sitting in for Jones),
Kotowski, McGuire, and Sullivan. No votes: Senators
Duffy and McCarter. Present (abstention): Senator Landek.
Wednesday, January 23, 2013 - Senator Andy Manar
(D-Bunker Hill) has introduced Senate Bill 336 [SB336],
the Illinois Rehabilitation and Revitalization Tax
Credit creating a new, statewide historic preservation
tax credit program.
Click here to read the original bill
language and subsequent amendments.
Make Illinois’ historic tax credit program truly
Landmarks Illinois, the American Institute of Architects
(AIA) Illinois, and our partners are advocating to
expand the current
Illinois Rehabilitation and Revitalization Tax Credit
to ensure this incentive is available statewide to
catalyze economic development through preservation.
The current tax credit program is a 25% state income tax
credit for eligible historic projects located only
within River Edge Redevelopment Zones in Aurora, East
St. Louis, Elgin, Peoria, and Rockford. Initially passed
in 2010, and expanded in 2011 (SB2168), the tax credit
as written complicates transactions with limitations on
layering, transferability, and phasing.
Why Does Illinois Need a Statewide Historic
Rehabilitation Tax Credit?
A state historic rehabilitation tax credit is critical
to create new jobs and leverage private investment in
Illinois. Without this tax credit, Illinois risks losing
hundreds of redevelopment, investment, and job creation
opportunities to neighboring states that do have this
type of incentive, thereby slowing our overall economic
Rogers Theatre, Charleston, IL. Credit: Bonnie McDonald