INC TX-CREDIT-HISTORC RESOURCE Senate SponsorsSen. Kirk W. Dillard-Don Harmon 1/9/2007SenateSession Sine Die 20 ILCS 3504/14.1 new35 ILCS 5/216 newAmends the Illinois Income Tax Act. Creates the rehabilitation of historic resource credit. Allows a credit against income taxes for 25% of the qualified expenditures for the rehabilitation of a historic resource. Provides that "historic resource" means certain publicly or privately owned historic buildings, structures, sites, objects, features, or open spaces located within a designated historic district or individually designated as historic. Provides that "qualified expenditures" means capital expenditures that qualify for a rehabilitation credit under Internal Revenue Code. Amends the Historic Preservation Agency Act to provide that the Historic Preservation Agency shall exercise all rights, powers, and duties set forth in the credit provisions. Effective immediately. 2/25/2005SenateFiled with Secretary by Sen. Kirk W. Dillard 2/25/2005SenateFirst Reading 2/25/2005SenateReferred to Rules 3/2/2005SenateAssigned to Revenue 3/9/2005SenateAdded as Chief Co-Sponsor Sen. Don Harmon 3/10/2005SenateTo Subcommittee 3/18/2005SenateRule 3-9(a) / Re-referred to Rules 1/9/2007SenateSession Sine Die