HISTORIC PRESERVATION CREDIT House SponsorsRep. Lou Lang 1/8/2013HouseSession Sine Die New Act35 ILCS 5/221 new Creates the Historic Preservation Tax Credit Act. Provides for an income tax credit in an amount equal to 25% of qualified expenditures incurred by a qualified taxpayer for the restoration and preservation of a qualified historic structure. Provides that the credit may be carried forward for up to 10 years. Provides that the credit may be sold, assigned, conveyed, or transferred. Provides that the cumulative amount of credits awarded under the Act may not exceed $25,000,000 per year per county. Amends the Illinois Income Tax Act to make conforming changes. Effective immediately. 2/17/2011HouseFiled with the Clerk by Rep. Lou Lang 2/22/2011HouseFirst Reading 2/22/2011HouseReferred to Rules Committee 2/24/2011HouseAssigned to Revenue & Finance Committee 3/17/2011HouseRule 19(a) / Re-referred to Rules Committee 1/8/2013HouseSession Sine Die