Illinois 95th Regular Session Status: In Committee 1 D cosponsors

HB 5153 — INC TX-ECON DEVELOPMENT CREDIT

Last action — Session Sine Die

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

This bill died with 95th Regular Session. It reached “In Committee” 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 Distressed Areas Land Assemblage Tax Credit Act and amends the Illinois Income Tax Act. Provides an income tax credit for taxpayers who incur certain costs related to the acquisition of economically distressed property for redevelopment purposes. Sets forth requirements for the credit. Provides that the total aggregate amount of tax credits issued under this Act may not exceed $12,000,000 in any one calendar year and may not exceed $100,000,000 for all calendar years. Provides that the credit may be sold or transferred and may be carried forward for 6 years.

Bill Text

Action History

  1. Session Sine Die

  2. Referred to Rules Committee

  3. First Reading

  4. Filed with the Clerk by Rep. Jay C. Hoffman

Sponsors

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 182 not signed on

Sponsors (0)

None.

Co-sponsors (1)

Not signed on (182)

182 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

public-safety taxation housing
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Frequently asked questions

What does HB 5153 do?
Creates the Distressed Areas Land Assemblage Tax Credit Act and amends the Illinois Income Tax Act. Provides an income tax credit for taxpayers who incur certain costs related to the acquisition of economically distressed property for redevelopment purposes. Sets forth requirements for the credit. Provides that the total aggregate amount of tax credits issued under this Act may not exceed $12,000,000 in any one calendar year and may not exceed $100,000,000 for all calendar years. Provides that the credit may be sold or transferred and may be carried forward for 6 years.
Who sponsors HB 5153?
HB 5153 is sponsored by Jay Hoffman (Democrat).
What is the current status of HB 5153?
This bill died with 95th Regular Session. It reached “In Committee” 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 HB 5153?
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Last checked for changes 3 months ago · updated continuously

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