INC TX-RIVER EDGE REDEVELOP Senate SponsorsSen. David Koehler House Sponsors(Rep. Jehan Gordon-Booth) 1/10/2023SenateSession Sine Die 35 ILCS 5/221Amends the Illinois Income Tax Act. Extends a tax credit allowable for qualified expenditures incurred by a qualified taxpayer in the restoration and preservation of a qualified historic structure located in a River Edge Redevelopment Zone to January 1, 2031 (currently, through January 1, 2022). Provides that, in order to qualify for such a tax credit, expenditures must: (i) equal $5,000 or more, (ii) exceed the adjusted basis of the qualified historic structure on the first day the qualified rehabilitation plan begins, and (iii) be a part of a qualified rehabilitation plan or phase of a qualified rehabilitation plan that received final approval to begin the expenditures no later than December 31, 2026 (currently, only (i) and (ii) are required). Effective immediately.Senate Floor Amendment No. 1 Makes a technical correction to the introduced bill by providing that the credit for restoration of qualified historic properties in a River Edge Redevelopment Zone applies for taxable years ending prior to January 1, 2027 (currently, January 1, 2022). 2/26/2021SenateFiled with Secretary by Sen. David Koehler 2/26/2021SenateFirst Reading 2/26/2021SenateReferred to Assignments 3/9/2021SenateAssigned to Revenue 4/15/2021SenateDo Pass Revenue; 008-000-000 4/15/2021SenatePlaced on Calendar Order of 2nd Reading April 20, 2021 4/16/2021SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. David Koehler 4/16/2021SenateSenate Floor Amendment No. 1 Referred to Assignments 4/20/2021SenateSenate Floor Amendment No. 1 Assignments Refers to Revenue 4/20/2021SenateSecond Reading 4/20/2021SenatePlaced on Calendar Order of 3rd Reading April 21, 2021 4/21/2021SenateSenate Floor Amendment No. 1 Recommend Do Adopt Revenue; 010-000-000 4/22/2021SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. David Koehler 4/22/2021SenateSenate Floor Amendment No. 2 Referred to Assignments 4/23/2021SenateRule 2-10 Third Reading Deadline Established As April 30, 2021 4/27/2021SenateSenate Floor Amendment No. 2 Assignments Refers to Revenue 4/29/2021SenateRecalled to Second Reading 4/29/2021SenateSenate Floor Amendment No. 1 Adopted; Koehler 4/29/2021SenateThird Reading - Passed; 053-000-000 4/29/2021SenateSenate Floor Amendment No. 2 Tabled Pursuant to Rule 5-4(a) 4/30/2021HouseArrived in House 5/3/2021HouseChief House Sponsor Rep. Jehan Gordon-Booth 5/4/2021HouseFirst Reading 5/4/2021HouseReferred to Rules Committee 5/5/2021HouseAssigned to Revenue & Finance Committee 5/15/2021HouseRule 19(a) / Re-referred to Rules Committee 1/10/2023SenateSession Sine Die