Bill in Illinois Would Triple Annual Cap on State HTC

Tuesday, March 23, 2021 - 11:45am

Legislation introduced in the Illinois House of Representatives would triple the annual cap for the state historic tax credit (HTC). H.B. 3974 would increase the annual cap from $15 million to $45 million. The bill makes no other changes. Other legislation in Illinois would create a Lincoln-Douglas state HTC for seven cities and extend the River Edge State HTC five years.

The Novogradac Introduction to Historic Tax Credits provides the basics of the HTC incentive, including how federal and state HTCs interact.