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Tax Credit Timing Handout

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Preservation Nation
Aug. 10, 2010

 

 

Encourage Jobs in Illinois
Support a Rehab Tax Credit

 

In March 2010, the  Illinois Senate passed SB 2559, but the bill did not pass out of the House Revenue Committee. The bill is based on the highly successful Missouri tax credit enacted in 1997, which has generated nearly 40,000 jobs for Missourians. The Illinois tax credit would have allowed a credit on Illinois state income taxes equal to 25% of the cost of a qualified historic rehabilitation, and to have been used in conjunction with the 20% federal tax credit to provide an important “boost” to many small-scale rehab projects that would not be possible otherwise.

 

What You Can Do

 

Please ask your Senators and Representatives to support the rehabilitation tax credit bill in the next legislative session as a means to create new jobs, draw new federal and private investment to Illinois, and revitalize historic buildings in your town.

 

Need Help Contacting Your State Legislator?

 

Not sure who represents you? Or need their contact information? Go to the Illinois Board of Elections website and enter your zip code.

 

To learn more, click on the Fact Sheets below:

 

Rehabilitation Tax Credits Fact Sheets


Illinois Coalition for Historic Preservation
and Economic Development

 

• American Council of Engineering Companies of Illinois

• American Institute of Architects, Chicago

• American Institute of Architects, Illinois Council (AIA Illinois)

• Baxter's Vineyard's Nauvoo, Illinois

• Central, Northern, Southern, Southwestern, Western
   and Chicago Plus Illinois Tourism Development Offices

• Cities of Belvidere, Blue Island, Carbondale, Carlinville,
   Centralia, Champaign, DeKalb, Dixon, Freeport, Fulton,
   Glen Ellyn, Lake Forest, Maywood, Monticello, Oak Park,
   Oregon, Ottawa, Peoria, Quincy, Riverside, Rockford,
   and Sterling

• Chicago Housing Authority (CHA)

• Chicago Suburban Teardown Alliance

• Citizens for Glen Ellyn Preservation

• Commerce Bank

• Decatur Historical & Architectural Sites Commission

• DeKalb Area Convention & Visitors Bureau

• Freeport Downtown Development Foundation

• Greater Centralia Chamber of Commerce

• Heartland Partnership

• Historic Chicago Bungalow Association

• Illinois Association of Historic Preservation Commissions

• Illinois Bankers Association

• Illinois Construction Industry Committee

• Illinois Council of Convention & Visitor Bureaus

• Illinois Heritage Association

• Illinois Mechanical and Specialty Contractors Association

• Illinois Society of Professional Engineers

• Illinois Tax Increment Association

• Kennedy Hutson Associates Architects

• Landmarks Illinois

• MacRostie Historic Advisors, LLC

• Macoupin Economic Development Partnership

• McHenry County Historical Society

• Naperville Heritage Society

• Naperville Historic Preservation Commission

• National Trust for Historic Preservation

• Nauvoo Chamber of Commerce

• Palestine Development Association

• Peoples Economic Development Corporation

• Peoples National Bank, N.A.

• Plante & Moran PLLC

• Preservation and Conservation Association of
   Champaign County

• Sterling Main Street

• Structural Engineers Association of Illinois

• Village of Villa Park, Historic Preservation Commission


If you’d like to join the Coalition or to get more information about the rehabilitation tax credit bills, please contact:

Lisa DiChiera
Landmarks Illinois
(312) 922-1742

Christine Morris
National Trust for Historic Preservation
(312) 939-5547 ex 37231

 

Press Coverage

 

• Illinois State Senate News, March 18, 2010 

• Peoria Journal Star, February 11, 2010 

For other Legislative Issues, click here.

 
         
 

 

 

 

 

 

Landmarks Illinois
Suite 1315
53 W. Jackson Blvd.
Chicago, IL 60604 
tel. 312-922-1742 
fax 312-922-8112

 

 

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tax exempt 501(c)(3) organization founded in 1971 and is the state's leading voice for historic preservation.