Sign Up For Novogradac Industry Alert Emails

Illinois Legislation Would Provide River Edge HTC for Projects Started Before Sunset Date

Wednesday, July 12, 2023 - 11:00AM

Legislation introduced in the Illinois House of Representatives would permit a taxpayer who begins the restoration or preservation of a property before the end of 2026 to have extended eligibility to receive the state River Edge historic tax credit (HTC). H.B. 4106 would allow the taxpayer to receive the tax credit until the taxable year that the project is completed or suspended. The River Edge HTC is for 25% of qualified rehabilitation expenditures (QREs) and sunsets Dec. 31, 2026.

The Novogradac Historic Rehabilitation Handbook provides an overview of the HTC and the intricacies of the incentive.

Learn more about Novogradac's expertise and many services