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Illinois Legislation Would Extend, Expand State HTC

Wednesday, January 25, 2023 - 2:00PM

A bill in the Illinois state Senate would extend the sunset date for the state historic tax credit (HTC) while increasing the annual cap. S.B. 119 would provide a sunset date of Dec. 31, 2028, for the state HTC, five years later than the current sunset date. The legislation would also expand the annual state cap of $15 million to $75 million, beginning Jan. 1, 2024.

The Novogradac Introduction to Historic Tax Credits booklet provides an introduction to the HTC, including the interaction of state and federal credits.

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