HISTORIC REHAB TAX CREDIT House SponsorsRep. Greg Harris-Thomas Holbrook-Maria Antonia Berrios-Jehan A. Gordon-Jack D. Franks, Lou Lang, Linda Chapa LaVia, Ann Williams and Deborah Mell 1/8/2013HouseSession Sine Die New Act35 ILCS 5/221 new215 ILCS 5/409from Ch. 73, par. 1021 Creates the Historic Rehabilitation Tax Credit Act. Authorizes tax credits against Illinois income taxes and insurance company privilege taxes for 25% of the costs of rehabilitating eligible historic property. Allows excess credits to be carried back and forward. Allows credits to be transferred, sold, or assigned. Provides that the credit is administered by the Department of Commerce and Economic Opportunity. Sets forth application and award procedures. Makes related changes in the Illinois Income Tax Act and the Illinois Insurance Code. Effective July 1, 2011. 2/8/2011HouseFiled with the Clerk by Rep. Greg Harris 2/8/2011HouseFirst Reading 2/8/2011HouseReferred to Rules Committee 2/14/2011HouseAssigned to Revenue & Finance Committee 2/17/2011HouseAdded Chief Co-Sponsor Rep. Lou Lang 2/17/2011HouseAdded Chief Co-Sponsor Rep. Thomas Holbrook 2/22/2011HouseRemove Chief Co-Sponsor Rep. Lou Lang 2/22/2011HouseAdded Chief Co-Sponsor Rep. Maria Antonia Berrios 2/22/2011HouseAdded Chief Co-Sponsor Rep. Jehan A. Gordon 2/22/2011HouseAdded Chief Co-Sponsor Rep. Jack D. Franks 2/22/2011HouseAdded Co-Sponsor Rep. Lou Lang 2/22/2011HouseAdded Co-Sponsor Rep. Linda Chapa LaVia 2/22/2011HouseAdded Co-Sponsor Rep. Ann Williams 2/22/2011HouseAdded Co-Sponsor Rep. Deborah Mell 3/17/2011HouseRule 19(a) / Re-referred to Rules Committee 1/8/2013HouseSession Sine Die