Rep. Martha Deuter
Filed: 3/19/2026
 
 

 
 

 
10400HB4841ham001LRB104 18803 HLH 35693 a

1
AMENDMENT TO HOUSE BILL 4841 

2    AMENDMENT NO. ______. Amend House Bill 4841 by replacing 
3everything after the enacting clause with the following:
 
4    "Section 5. The Illinois Income Tax Act is amended by 
5changing Section 214 as follows:
 
6    (35 ILCS 5/214)
7    Sec. 214. Tax credit for affordable housing donations. 
8    (a) Beginning with taxable years ending on or after 
9December 31, 2001 and until the taxable year ending on 
10December 31, 2036 December 31, 2026, a taxpayer who makes a 
11donation under Section 7.28 of the Illinois Housing 
12Development Act is entitled to a credit against the tax 
13imposed by subsections (a) and (b) of Section 201 in an amount 
14equal to 50% of the value of the donation. For taxable years 
15ending before December 31, 2023, partners, shareholders of 
16subchapter S corporations, and owners of limited liability 
 
 
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1companies (if the limited liability company is treated as a 
2partnership for purposes of federal and State income taxation) 
3are entitled to a credit under this Section to be determined in 
4accordance with the determination of income and distributive 
5share of income under Sections 702 and 703 and subchapter S of 
6the Internal Revenue Code. For taxable years ending on or 
7after December 31, 2023, partners and shareholders of 
8subchapter S corporations are entitled to a credit under this 
9Section as provided in Section 251. Persons or entities not 
10subject to the tax imposed by subsections (a) and (b) of 
11Section 201 and who make a donation under Section 7.28 of the 
12Illinois Housing Development Act are entitled to a credit as 
13described in this subsection and may transfer that credit as 
14described in subsection (c).
15    (b) If the amount of the credit exceeds the tax liability 
16for the year, the excess may be carried forward and applied to 
17the tax liability of the 5 taxable years following the excess 
18credit year. The tax credit shall be applied to the earliest 
19year for which there is a tax liability. If there are credits 
20for more than one year that are available to offset a 
21liability, the earlier credit shall be applied first.
22    (c) The transfer of the tax credit allowed under this 
23Section may be made (i) to the purchaser of land that has been 
24designated solely for affordable housing projects in 
25accordance with the Illinois Housing Development Act or (ii) 
26to another donor who has also made a donation in accordance 
 
 
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1with Section 7.28 of the Illinois Housing Development Act.
2    (d) A taxpayer claiming the credit provided by this 
3Section must maintain and record any information that the 
4Department may require by regulation regarding the project for 
5which the credit is claimed. When claiming the credit provided 
6by this Section, the taxpayer must provide information 
7regarding the taxpayer's donation to the project under the 
8Illinois Housing Development Act.
9(Source: P.A. 102-16, eff. 6-17-21; 102-175, eff. 7-29-21; 
10103-396, eff. 1-1-24.)
 
11    Section 99. Effective date. This Act takes effect upon 
12becoming law.".