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Illinois Historic
Preservation Tax Credit Program
Is Up and Running
The Illinois
Historic Preservation Tax Credit Program is up and
running. The program provides a state income tax credit
equal to 25% of a project’s qualified expenditures to
owners of certified historic structures located within
River Edge Redevelopment Zones (Aurora (pictured), East
St. Louis, Elgin, Rockford and soon Peoria) who
undertake certified rehabilitations during the taxable
year. Landmarks Illinois, National Trust for Historic
Preservation, and AIA Illinois continue to work on
efforts to expand this program for the entire state.
For
information on the current program, administered jointly
by the Department of Commerce and Economic Opportunity (DCEO)
and the Illinois Historic Preservation Agency (IHPA), go
to:
www.illinoishistory.gov/PS/IHPATCP.HTM.
To learn
about the effort to create the Illinois Historic
Preservation Tax Credit Program:
www.landmarks.org/legislative_current_state_bills.htm.
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