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Illinois Legislation Extends River Edge HTC, State Donation LIHTC for Five Years
Illinois Gov. J.B. Pritzker signed legislation to implement the state budget that includes provisions to extend the sunset date for the state’s River Edge historic tax credit (HTC) and the state credit for affordable housing donations. S. 2017 extends the sunset date for the River Edge HTC from Dec. 31, 2021, to Dec. 31, 2026. The credit is for 25% of qualified rehabilitation expenditures in the River Edge Redevelopment Zone that meet four other qualifications. The legislation similarly extends the sunset date for the affordable housing donation credit, which is worth 50% of the donation.
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