Illinois 102nd Regular Session Status: Passed Senate 5 D cosponsors

SB 2445 — BUILD ILLINOIS HOMES CREDIT

Last action — Session Sine Die

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 102nd Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Creates the Build Illinois Homes Tax Credit Act. Provides that owners of qualified low-income housing developments are eligible for credits against (i) State income taxes and (ii) any privilege tax or retaliatory tax, penalty, fee, charge, or payment imposed under the Illinois Insurance Code. Amends the Illinois Housing Development Act. Provides that the Illinois Housing Development Authority shall develop a form and include it with certain financing agreements. Amends the Retailers' Occupation Tax Act. Creates an exemption for building materials to be incorporated into an 100% affordable housing project by rehabilitation or new construction. Amends the Property Tax Code. Provides for a reduction in assessed value for affordable rental housing construction or rehabilitation. Amends the Affordable Housing Planning and Appeal Act. Provides that an affordable housing plan, or any revision thereof, shall not be adopted by a non-exempt local government until notice and opportunity for public hearing have first been afforded. Makes other changes. Effective immediately. Senate Committee Amendment No. 1 Adds reference to: 35 ILCS 200/10-260 Provides that the credits and incentives created in the introduced bill apply on or after January 1, 2024 (in the introduced bill January 1, 2021). In provisions creating the Build Illinois Homes Tax Credit Act, provides that notice of recapture shall be sent to the owner of the qualified development, the Department of Revenue, and the Department of Insurance (in the introduced bill, the Department of Revenue and Department of Insurance only). Further amends the Property Tax Code. Makes changes concerning the assessment of low-income housing projects that qualify for the Low-Income Housing Tax Credit under Section 42 of the Internal Revenue Code. Makes other technical changes.

Bill Text

Amendments

2 amendments

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Action History

  1. Session Sine Die

  2. Senate Floor Amendment No. 2 Pursuant to Senate Rule 3-9(b) / Referred to Assignments

  3. Rule 3-9(a) / Re-referred to Assignments

  4. Rule 2-10 Third Reading Deadline Established As May 31, 2021

  5. Added as Co-Sponsor Sen. Adriane Johnson

  6. Rule 2-10 Committee/3rd Reading Deadline Established As May 21, 2021

  7. Added as Co-Sponsor Sen. Laura M. Murphy

  8. Rule 2-10 Third Reading Deadline Established As May 7, 2021

  9. Added as Co-Sponsor Sen. Cristina H. Pacione-Zayas

  10. Rule 2-10 Third Reading Deadline Established As April 30, 2021

  11. Senate Floor Amendment No. 2 Postponed - Revenue

  12. Placed on Calendar Order of 3rd Reading April 21, 2021

  13. Second Reading

  14. Senate Floor Amendment No. 2 Assignments Refers to Revenue

  15. Senate Floor Amendment No. 2 Referred to Assignments

  16. Senate Floor Amendment No. 2 Filed with Secretary by Sen. Mattie Hunter

  17. Placed on Calendar Order of 2nd Reading April 20, 2021

  18. Do Pass as Amended Revenue; 009-000-000

  19. Senate Committee Amendment No. 1 Adopted

  20. Senate Committee Amendment No. 1 Assignments Refers to Revenue

  21. Senate Committee Amendment No. 1 Referred to Assignments

  22. Senate Committee Amendment No. 1 Filed with Secretary by Sen. Mattie Hunter

  23. Added as Chief Co-Sponsor Sen. Jacqueline Y. Collins

  24. Assigned to Revenue

  25. Referred to Assignments

  26. First Reading

  27. Chief Co-Sponsor Sen. Sara Feigenholtz

  28. Chief Co-Sponsor Sen. Ann Gillespie

  29. Filed with Secretary by Sen. Mattie Hunter

Sponsors

Sponsorship breakdown

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1 sponsors · 6 co-sponsors · 176 not signed on

Sponsors (1)

Co-sponsors (6)

Not signed on (176)

176 members have not signed on to this bill.

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"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.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation housing
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Frequently asked questions

What does SB 2445 do?
Creates the Build Illinois Homes Tax Credit Act. Provides that owners of qualified low-income housing developments are eligible for credits against (i) State income taxes and (ii) any privilege tax or retaliatory tax, penalty, fee, charge, or payment imposed under the Illinois Insurance Code. Amends the Illinois Housing Development Act. Provides that the Illinois Housing Development Authority shall develop a form and include it with certain financing agreements. Amends the Retailers' Occupation Tax Act. Creates an exemption for building materials to be incorporated into an 100% affordable housing project by rehabilitation or new construction. Amends the Property Tax Code. Provides for a reduction in assessed value for affordable rental housing construction or rehabilitation. Amends the Affordable Housing Planning and Appeal Act. Provides that an affordable housing plan, or any revision thereof, shall not be adopted by a non-exempt local government until notice and opportunity for public hearing have first been afforded. Makes other changes. Effective immediately. Senate Committee Amendment No. 1 Adds reference to: 35 ILCS 200/10-260 Provides that the credits and incentives created in the introduced bill apply on or after January 1, 2024 (in the introduced bill January 1, 2021). In provisions creating the Build Illinois Homes Tax Credit Act, provides that notice of recapture shall be sent to the owner of the qualified development, the Department of Revenue, and the Department of Insurance (in the introduced bill, the Department of Revenue and Department of Insurance only). Further amends the Property Tax Code. Makes changes concerning the assessment of low-income housing projects that qualify for the Low-Income Housing Tax Credit under Section 42 of the Internal Revenue Code. Makes other technical changes.
Who sponsors SB 2445?
SB 2445 is sponsored by Mattie Hunter (Democrat), Ann Gillespie, Sara Feigenholtz (Democrat), Cristina H. Pacione-Zayas, Laura M. Murphy (Democrat), Adriane L. Johnson (Democrat), and Lakesia Collins (Democrat).
What is the current status of SB 2445?
This bill died with 102nd Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 2445?
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Last checked for changes 3 months ago · updated continuously

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