INC TX-RIVER EDGE REDEVELOP
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SB 2168 — INC TX-RIVER EDGE REDEVELOP
Last action — Public Act . . . . . . . . . 97-0203
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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✓In Committee
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✓Passed Senate
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✓Passed House
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✓To Executive
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6Enacted
This bill has been enacted into law. Introduced February 10, 2011. Enacted.
Prognosis
Where this bill stands today.
Odds of enactment
HighHow often bills like it became law.
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Enacted
Current position in the legislative process.
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6 sponsors
0 primary, 6 co-sponsors signed on.
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Single-party support
Sponsorship is currently within one party (1 R).
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Cleared a recorded vote
Passed 3 recorded votes so far.
Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.
Summary
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 certain historic property located in a River Edge Redevelopment Zone. Allows excess credits to be carried back and forward. Allows credits to be transferred, sold, or assigned. Administered by the Department of Commerce and Economic Opportunity. Sets forth application and award procedures. Effective immediately.
Bill Text
What changed in the latest version
174 added · 91 removedPlain-language change summary
The amended bill SB 2168 introduces a new requirement where the tax credit can only be claimed for expenses exceeding $5,000 for restoring historic structures, and the total must exceed 50% of the property's purchase price. Additionally, the timeline for applying for the tax credit has been removed, meaning taxpayers can apply for the credit at any time during the eligible period. This change may encourage more property owners to invest in restoring historic structures without the pressure of a strict application deadline, potentially benefiting local economies and preserving cultural heritage.
SB2168 EngrossedEnrolled LRB097 09058 HLH 49192 b AN ACT concerning revenue.
(a) For taxable years beginning on or after January 1, 2012,2012 and ending prior to January 1, 2017, there shall be allowed a tax credit against the tax imposed by subsections (a) and (b) of Section 201 in an amount equal to 25% of qualified expenditures incurred by a qualified taxpayer during the taxable year in the restoration and preservation of a qualified historic structure located in a River Edge Redevelopment Zone that exists on the effective date of this amendatory Act of the 97th General Assembly pursuant to a qualified rehabilitation plan, provided that the total amount SB2168of Engrossedsuch -expenditures 2(i) -must LRB097equal 09058$5,000 HLHor 49192more bSB2168 ofEnrolled such- expenditures2 (i)- mustLRB097 equal09058 $5,000HLH or49192 moreb and (ii) must exceed 50% of the purchase price of the property.
(b) To obtain a tax credit pursuant to this Section, the taxpayer must apply with the Department of Commerce and Economic OpportunityOpportunity. no later than 6 months after the effective date of this amendatory Act of the 97th General Assembly.
Subject to appropriation, moneys in the Historic Property Administrative Fund shall be evenly divided between the Department of Commerce and Economic Opportunity and the Historic Preservation Agency to reimburse the Department of Commerce and Economic Opportunity and the Historic Preservation Agency for the costs SB2168 Engrossed - 3 - LRB097 09058 HLH 49192 b associated with administering this Section.
The taxpayer must attach the certificate to the tax return on which the credits are to be SB2168 Enrolled - 3 - LRB097 09058 HLH 49192 b claimed.
The Department of Commerce and Economic Opportunity may adopt rules to implement this Section.
If the amount of any tax credit awarded under this Section exceeds the qualified taxpayer's income tax liability for the year in which the qualified rehabilitation plan was placed in service, the excess amount may be carried forward for deduction from the taxpayer's income tax liability in the next succeeding year or years until the total amount of the credit has been used, except that a credit may not be carried forward for deduction after the tenth taxable year after the taxable year in which the qualified rehabilitation plan was placed in service.
"Qualified rehabilitation plan" means a project that is approved by the Historic Preservation Agency as being consistent with the standards in effect on the effective date SB2168 Engrossed - 4 - LRB097 09058 HLH 49192 b of this amendatory Act of the 97th General Assembly for rehabilitation as adopted by the federal Secretary of the Interior.
IfPartners, shareholders of subchapter S corporations, and owners of limited liability companies (if the taxpayerlimited isliability (i)company ais corporationtreated havingas ana electionpartnership infor effectSB2168 underEnrolled Subchapter- S4 of- theLRB097 federal09058 InternalHLH Revenue49192 Code,b (ii)purposes aof partnership,federal orand (iii)State aincome limitedtaxation) liabilityare company,entitled theto a credit provided under this ActSection mayto be claimeddetermined byin accordance with the shareholdersdetermination of theincome corporation,and thedistributive partnersshare of theincome partnership,under orSections the702 membersand 703 and subchapter S of the limitedInternal liabilityRevenue companyCode, inprovided thethat samecredits mannergranted asto thosea shareholders,partnership, partners,a orlimited membersliability accountcompany fortaxed theiras proportionatea sharespartnership, or other multiple owners of theproperty incomeshall orbe lossespassed ofthrough to the corporation,partners, partnership,members, or limitedowners liabilityrespectively company,on ora aspro providedrata inbasis theor by-lawspursuant orto otheran executed agreement ofamong the corporation,partners, partnership,members, or limitedowners liabilitydocumenting company.any alternate distribution method.
CreditsSection granted15. to a partnership, a limited liability company taxed as a partnership, or other multiple owners of property shall be passed through to the partners, members, or owners respectively on a pro rata basis or pursuant to an executed agreement among the partners, members, or owners documenting any alternate distribution method.
SectionThe 99.River Edge Redevelopment Zone Act is amended by changing Sections 10-2 and 10-5.3 as follows:
(65 ILCS 115/10-2) Sec.
10-2.
Findings.
The General Assembly finds and declares that those municipalities adjacent to or surrounding river areas often lack critical tools to safely revive and redevelop environmentally-challenged properties that will stimulate economic revitalization and create jobs in Illinois.
Environmentally-challenged properties adjacent to or surrounding Illinois rivers are a threat to the health, safety, and welfare of the people of this State.
Many of these environmentally-challenged properties adjacent to or surrounding rivers were former industrial areas that now, SB2168 Enrolled - 5 - LRB097 09058 HLH 49192 b subject to appropriate environmental clean-up and remediation, would be ideal for office, residential, retail, hospitality, commercial, recreational, warehouse and distribution, and other economically productive uses.
The cost of the cleaning and remediation of these environmentally-challenged properties is often the primary obstacle to returning these properties to a safe and economically productive use.
Cooperative and continuous partnership among the State, through the Department of Commerce and Economic Opportunity and the Environmental Protection Agency, municipalities adjacent to or surrounding rivers, and the private sector is necessary to appropriately encourage the cost-effective cleaning and remediation of these environmentally-challenged properties in order to bring about a safe and economically productive use of the properties.
Therefore, it is declared to be the purpose of this Act to identify and initiate 3 pilot River Edge Redevelopment Zones to stimulate the safe and cost-effective re-use of environmentally-challenged properties adjacent to or surrounding rivers by means of tax incentives or grants.
On or after the effective date of this amendatory Act of the 97th General Assembly, the Department may certify an additional pilot River Edge Redevelopment Zone in the City of Peoria.
(Source:
P.A.
94-1021, eff.
7-12-06;
94-1022, eff.
7-12-06.) (65 ILCS 115/10-5.3) SB2168 Enrolled - 6 - LRB097 09058 HLH 49192 b Sec.
10-5.3.
Certification of River Edge Redevelopment Zones.
(a) Approval of designated River Edge Redevelopment Zones shall be made by the Department by certification of the designating ordinance.
The Department shall promptly issue a certificate for each zone upon its approval.
The certificate shall be signed by the Director of the Department, shall make specific reference to the designating ordinance, which shall be attached thereto, and shall be filed in the office of the Secretary of State.
A certified copy of the River Edge Redevelopment Zone Certificate, or a duplicate original thereof, shall be recorded in the office of the recorder of deeds of the county in which the River Edge Redevelopment Zone lies.
(b) A River Edge Redevelopment Zone shall be effective upon its certification.
The Department shall transmit a copy of the certification to the Department of Revenue, and to the designating municipality.
Upon certification of a River Edge Redevelopment Zone, the terms and provisions of the designating ordinance shall be in effect, and may not be amended or repealed except in accordance with Section 10-5.4.
(c) A River Edge Redevelopment Zone shall be in effect for the period stated in the certificate, which shall in no event exceed 30 calendar years.
Zones shall terminate at midnight of December 31 of the final calendar year of the certified term, except as provided in Section 10-5.4.
SB2168 Enrolled - 7 - LRB097 09058 HLH 49192 b (d) In calendar years 2006 and 2007, the Department may certify one pilot River Edge Redevelopment Zone in the City of East St.
Louis, one pilot River Edge Redevelopment Zone in the City of Rockford, and one pilot River Edge Redevelopment Zone in the City of Aurora.
Show all 51 changed lines (11 more)
In calendar year 2009, the Department may certify one pilot River Edge Redevelopment Zone in the City of Elgin.
On or after the effective date of this amendatory Act of the 97th General Assembly, the Department may certify one additional pilot River Edge Redevelopment Zone in the City of Peoria.
Thereafter the Department may not certify any additional River Edge Redevelopment Zones, but may amend and rescind certifications of existing River Edge Redevelopment Zones in accordance with Section 10-5.4.
(e) A municipality in which a River Edge Redevelopment Zone has been certified must submit to the Department, within 60 days after the certification, a plan for encouraging the participation by minority persons, females, persons with disabilities, and veterans in the zone.
The Department may assist the municipality in developing and implementing the plan.
The terms "minority person", "female", and "person with a disability" have the meanings set forth under Section 2 of the Business Enterprise for Minorities, Females, and Persons with Disabilities Act.
"Veteran" means an Illinois resident who is a veteran as defined in subsection (h) of Section 1491 of Title SB2168 Enrolled - 8 - LRB097 09058 HLH 49192 b 10 of the United States Code.
(Source:
P.A.
96-37, eff.
7-13-09.) Section 99.
Show all 51 changed rows (11 more)
Action History
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Public Act . . . . . . . . . 97-0203
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Effective Date July 28, 2011
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Governor Approved
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Sent to the Governor
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Passed Both Houses
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House Floor Amendment No. 2 Senate Concurs 058-000-000
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House Floor Amendment No. 2 Motion To Concur Recommended Do Adopt Revenue; 007-000-000
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House Floor Amendment No. 2 Motion to Concur Assignments Referred to Revenue
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House Floor Amendment No. 2 Motion to Concur Referred to Assignments
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House Floor Amendment No. 2 Motion to Concur Filed with Secretary Sen. James F. Clayborne, Jr.
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Placed on Calendar Order of Concurrence House Amendment(s) 2 - May 31, 2011
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Secretary's Desk - Concurrence House Amendment(s) 2
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Third Reading - Short Debate - Passed 115-000-000
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Placed on Calendar Order of 3rd Reading - Short Debate
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House Floor Amendment No. 2 Adopted by Voice Vote
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House Floor Amendment No. 2 Recommends Be Adopted Revenue & Finance Committee; 009-000-000
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Added Alternate Co-Sponsor Rep. Joe Sosnowski
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House Floor Amendment No. 2 Rules Refers to Revenue & Finance Committee
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Held on Calendar Order of Second Reading - Short Debate
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Second Reading - Short Debate
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Added Alternate Co-Sponsor Rep. Michael Unes
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Added Alternate Co-Sponsor Rep. Jack McGuire
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House Floor Amendment No. 2 Referred to Rules Committee
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House Floor Amendment No. 2 Filed with Clerk by Rep. Jehan A. Gordon
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House Committee Amendment No. 1 Tabled Pursuant to Rule 40
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Placed on Calendar 2nd Reading - Short Debate
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Do Pass / Short Debate Revenue & Finance Committee; 009-000-000
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Final Action Deadline Extended-9(b) May 31, 2011
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Added Alternate Co-Sponsor Rep. Eddie Lee Jackson, Sr.
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Added Alternate Co-Sponsor Rep. Keith Farnham
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Added Alternate Chief Co-Sponsor Rep. Dave Winters
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Added Alternate Chief Co-Sponsor Rep. Linda Chapa LaVia
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Added Alternate Chief Co-Sponsor Rep. David R. Leitch
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Final Action Deadline Extended-9(b) May 27, 2011
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Motion to Suspend Rule 25 - Prevailed by Voice Vote
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Motion Filed to Suspend Rule 25 Revenue & Finance Committee; Rep. Barbara Flynn Currie
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House Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
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Committee Deadline Extended-Rule 9(b) May 20, 2011
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House Committee Amendment No. 1 Referred to Rules Committee
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House Committee Amendment No. 1 Filed with Clerk by Rep. Jehan A. Gordon
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Assigned to Revenue & Finance Committee
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Referred to Rules Committee
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First Reading
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Added Alternate Chief Co-Sponsor Rep. Charles E. Jefferson
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Alternate Chief Sponsor Changed to Rep. Jehan A. Gordon
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Chief House Sponsor Rep. Charles E. Jefferson
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Placed on Calendar Order of First Reading
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Arrived in House
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Third Reading - Passed; 056-000-001
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Added as Chief Co-Sponsor Sen. David Koehler
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Added as Co-Sponsor Sen. Dave Syverson
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Placed on Calendar Order of 3rd Reading April 12, 2011
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Senate Floor Amendment No. 1 Adopted; Clayborne
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Second Reading
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Senate Floor Amendment No. 1 Recommend Do Adopt Revenue; 009-000-000
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Senate Floor Amendment No. 1 Assignments Refers to Revenue
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Senate Floor Amendment No. 1 Referred to Assignments
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Senate Floor Amendment No. 1 Filed with Secretary by Sen. James F. Clayborne, Jr.
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Placed on Calendar Order of 2nd Reading March 17, 2011
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Do Pass Revenue; 008-002-000
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Postponed - Revenue
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Added as Chief Co-Sponsor Sen. Michael Noland
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Added as Chief Co-Sponsor Sen. Linda Holmes
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Assigned to Revenue
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Referred to Assignments
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First Reading
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Filed with Secretary by Sen. James F. Clayborne, Jr.
Sponsors
- Jr. James F. Clayborne · Cosponsor
- Keith Farnham · Cosponsor
- Sr. Eddie Lee Jackson · Cosponsor
- Jack McGuire · Cosponsor
- Michael Unes · Cosponsor
- Joe C. Sosnowski · Cosponsor
Sponsorship breakdown
Export CSV (upgrade) →0 sponsors · 6 co-sponsors · 177 not signed on
Sponsors (0)
None.
Co-sponsors (6)
- James F. Clayborne, Jr.
- Keith Farnham
- Eddie Lee Jackson, Sr.
- Jack McGuire
- Michael Unes
- Joe C. Sosnowski Republican
Not signed on (177)
177 members have not signed on to this bill.
Show all 177 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Votes
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Democrat | 13 | 0 | 0 | 1 |
| Unaffiliated | 96 | 0 | 0 | 2 |
| Republican | 6 | 0 | 0 | 0 |
| Total | 115 | 0 | 0 | 3 |
| % of votes cast | 97% | 0% | 0% | 3% |
How each member voted (118)
| Member | Party | Vote |
|---|---|---|
| Brauer | — | Yea |
| Brown | — | Yea |
| Carli | — | Yea |
| Connelly | — | Yea |
| McAsey | — | Yea |
| Holbrook | — | Yea |
| Jakobsson | — | Yea |
| Jefferson | — | Yea |
| Nekritz | — | Yea |
| Kay | — | Yea |
| Leitch | — | Yea |
| Mathias | — | Yea |
| May | — | Yea |
| Reitz | — | Yea |
| McAuliffe | — | Yea |
| McCarthy | — | Yea |
| Mell | — | Yea |
| Lyons | — | Yea |
| Moffitt | — | Yea |
| Morthland | — | Yea |
| Senger | — | Yea |
| Soto | — | Yea |
| Bradley | — | Yea |
| McGuire | — | Yea |
| Brady | — | Yea |
| Mitchell, Bill | — | Yea |
| Mitchell, Jerry | — | Yea |
| Burke, Daniel | — | Yea |
| Burke, Kelly | — | Yea |
| Sullivan | — | Yea |
| Harris, David | — | Yea |
| Dugan | — | Yea |
| Dunkin | — | Yea |
| Durkin | — | Yea |
| Eddy | — | Yea |
| Farnham | — | Yea |
| Flowers | — | Yea |
| Fortner | — | Yea |
| Franks | — | Yea |
| Golar | — | Yea |
| Gordon | — | Yea |
| Harris, Greg | — | Yea |
| Lang | — | Yea |
| Hernandez | — | Yea |
| Madigan | — | Yea |
| Mulligan | — | Yea |
| Watson | — | Yea |
| Williams | — | Yea |
| Osmond | — | Yea |
| Phelps | — | Yea |
| Jones | — | Yea |
| Thapedi | — | Yea |
| Davis, Monique | — | Yea |
| Howard | — | Not Voting |
| Tryon | — | Yea |
| Turner | — | Yea |
| Unes | — | Yea |
| Verschoore | — | Yea |
| Winters | — | Yea |
| Yarbrough | — | Yea |
| Zalewski | — | Yea |
| Cavaletto | — | Yea |
| Coladipietro | — | Yea |
| Cole | — | Yea |
| Colvin | — | Yea |
| Cross | — | Yea |
| Currie | — | Yea |
| D'Amico | — | Yea |
| Hatcher | — | Not Voting |
| Hays | — | Yea |
| Jackson | — | Yea |
| Kosel | — | Yea |
| Nybo | — | Yea |
| Pihos | — | Yea |
| Poe | — | Yea |
| Pritchard | — | Yea |
| Ramey | — | Yea |
| Reboletti | — | Yea |
| Reis | — | Yea |
| Riley | — | Yea |
| Roth | — | Yea |
| Sacia | — | Yea |
| Saviano | — | Yea |
| Schmitz | — | Yea |
| Sente | — | Yea |
| Sommer | — | Yea |
| Acevedo | — | Yea |
| Arroyo | — | Yea |
| Barickman | — | Yea |
| Beaubien | — | Yea |
| Beiser | — | Yea |
| Bellock | — | Yea |
| Berrios | — | Yea |
| Biss | — | Yea |
| Mautino | — | Yea |
| Bost | — | Yea |
| Chapa LaVia | — | Yea |
| Du Buclet | — | Yea |
| Anthony DeLuca | Democrat | Yea |
| Bill Cunningham | Democrat | Yea |
| Camille Y. Lilly | Democrat | Yea |
| Fred Crespo | Democrat | Yea |
| Julie A. Morrison | Democrat | Not Voting |
| Kelly M. Cassidy | Democrat | Yea |
| La Shawn K. Ford | Democrat | Yea |
| Michelle Mussman | Democrat | Yea |
| Nicholas K. Smith | Democrat | Yea |
| Rita Mayfield | Democrat | Yea |
| Robert "Bob" Rita | Democrat | Yea |
| Robyn Gabel | Democrat | Yea |
| Sara Feigenholtz | Democrat | Yea |
| William "Will" Davis | Democrat | Yea |
| Brad Stephens | Republican | Yea |
| Chapin Rose | Republican | Yea |
| Jil Tracy | Republican | Yea |
| Joe C. Sosnowski | Republican | Yea |
| Norine K. Hammond | Republican | Yea |
| Wayne A. Rosenthal | Republican | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 45 | 0 | 0 | 1 |
| Democrat | 10 | 0 | 0 | 0 |
| Republican | 3 | 0 | 0 | 0 |
| Total | 58 | 0 | 0 | 1 |
| % of votes cast | 98% | 0% | 0% | 2% |
How each member voted (59)
| Member | Party | Vote |
|---|---|---|
| Cultra | — | Yea |
| Mulroe | — | Yea |
| Muñoz | — | Yea |
| Link | — | Yea |
| Maloney | — | Yea |
| McCann | — | Yea |
| McCarter | — | Yea |
| Meeks | — | Yea |
| Millner | — | Yea |
| Brady | — | Yea |
| Schoenberg | — | Yea |
| Jacobs | — | Yea |
| Johnson, C. | — | Yea |
| Steans | — | Yea |
| Sullivan | — | Yea |
| Jones, J. | — | Yea |
| Clayborne | — | Yea |
| Crotty | — | Yea |
| Haine | — | Yea |
| Hutchinson | — | Yea |
| Kotowski | — | Yea |
| LaHood | — | Yea |
| Cullerton | — | Yea |
| Landek | — | Yea |
| Johnson, T. | — | Not Voting |
| Noland | — | Yea |
| Radogno | — | Yea |
| Dillard | — | Yea |
| Duffy | — | Yea |
| Forby | — | Yea |
| Frerichs | — | Yea |
| Garrett | — | Yea |
| Trotter | — | Yea |
| Wilhelmi | — | Yea |
| Pankau | — | Yea |
| Raoul | — | Yea |
| Righter | — | Yea |
| Sandack | — | Yea |
| Sandoval | — | Yea |
| Silverstein | — | Yea |
| Lauzen | — | Yea |
| Luechtefeld | — | Yea |
| Althoff | — | Yea |
| Martinez | — | Yea |
| Bivins | — | Yea |
| Bomke | — | Yea |
| David Koehler | Democrat | Yea |
| Don Harmon | Democrat | Yea |
| Emil Jones, III | Democrat | Yea |
| Eva-Dina Delgado | Democrat | Yea |
| Kimberly A. Lightford | Democrat | Yea |
| Lakesia Collins | Democrat | Yea |
| Lakesia Collins | Democrat | Yea |
| Laura M. Murphy | Democrat | Yea |
| Linda Holmes | Democrat | Yea |
| Mattie Hunter | Democrat | Yea |
| Dave Syverson | Republican | Yea |
| Kevin Schmidt | Republican | Yea |
| Sue Rezin | Republican | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 43 | 0 | 0 | 3 |
| Democrat | 10 | 0 | 0 | 0 |
| Republican | 3 | 0 | 0 | 0 |
| Total | 56 | 0 | 0 | 3 |
| % of votes cast | 95% | 0% | 0% | 5% |
How each member voted (59)
| Member | Party | Vote |
|---|---|---|
| Millner | — | Yea |
| Forby | — | Yea |
| Muñoz | — | Yea |
| Link | — | Yea |
| Luechtefeld | — | Yea |
| Haine | — | Yea |
| LaHood | — | Yea |
| Landek | — | Yea |
| Brady | — | Yea |
| Maloney | — | Yea |
| Johnson, C. | — | Yea |
| Johnson, T. | — | Yea |
| McCann | — | Yea |
| McCarter | — | Not Voting |
| Sullivan | — | Yea |
| Jones, J. | — | Yea |
| Meeks | — | Not Voting |
| Mulroe | — | Yea |
| Cullerton | — | Yea |
| Noland | — | Yea |
| Pankau | — | Yea |
| Jacobs | — | Not Voting |
| Schoenberg | — | Yea |
| Steans | — | Yea |
| Trotter | — | Yea |
| Wilhelmi | — | Yea |
| Clayborne | — | Yea |
| Crotty | — | Yea |
| Cultra | — | Yea |
| Dillard | — | Yea |
| Duffy | — | Yea |
| Frerichs | — | Yea |
| Garrett | — | Yea |
| Hutchinson | — | Yea |
| Kotowski | — | Yea |
| Radogno | — | Yea |
| Raoul | — | Yea |
| Righter | — | Yea |
| Sandack | — | Yea |
| Sandoval | — | Yea |
| Silverstein | — | Yea |
| Lauzen | — | Yea |
| Althoff | — | Yea |
| Martinez | — | Yea |
| Bivins | — | Yea |
| Bomke | — | Yea |
| David Koehler | Democrat | Yea |
| Don Harmon | Democrat | Yea |
| Emil Jones, III | Democrat | Yea |
| Eva-Dina Delgado | Democrat | Yea |
| Kimberly A. Lightford | Democrat | Yea |
| Lakesia Collins | Democrat | Yea |
| Lakesia Collins | Democrat | Yea |
| Laura M. Murphy | Democrat | Yea |
| Linda Holmes | Democrat | Yea |
| Mattie Hunter | Democrat | Yea |
| Dave Syverson | Republican | Yea |
| Kevin Schmidt | Republican | Yea |
| Sue Rezin | Republican | Yea |
Subjects
Frequently asked questions
- What does SB 2168 do?
- 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 certain historic property located in a River Edge Redevelopment Zone. Allows excess credits to be carried back and forward. Allows credits to be transferred, sold, or assigned. Administered by the Department of Commerce and Economic Opportunity. Sets forth application and award procedures. Effective immediately.
- Who sponsors SB 2168?
- SB 2168 is sponsored by James F. Clayborne, Jr., Keith Farnham, Eddie Lee Jackson, Sr., Jack McGuire, Michael Unes, and Joe C. Sosnowski (Republican).
- What is the current status of SB 2168?
- This bill has been enacted into law. Introduced February 10, 2011. Enacted.
- Where can I track SB 2168?
- Track SB 2168 free on One Click Politics — get push/email alerts when it moves.
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