TURNER,ART. 35 ILCS 5/212 new Amends the Illinois Income Tax Act. Creates the Illinois low-income housing tax credit. Grants a taxpayer owning an interest in a qualified project the credit in an amount determined by the Illinois Housing Development Authority to ensure the feasibility of the project. Limits the amount of the credit to an amount equal to the federal credit. Allows an excess credit to be carried forward and applied to the tax liability of the succeeding 10 years. Excepts from the Act's sunset requirements. Effective immediately. HOUSE AMENDMENT NO. 1. Deletes reference to: 35 ILCS 5/212 new Adds reference to: 35 ILCS 5/101 from Ch. 120, par. 1-101 Deletes everything. Amends the Illinois Income Tax Act concerning the short title. Makes a technical change. 99-02-18 H FIRST READING 99-02-18 H REFERRED TO HOUSE RULES COMMITTEE RULES 99-02-24 H ASSIGNED TO COMMITTEE REVENUE 99-03-04 H AMENDMENT NO. 01-REVENUE H 99-03-04 H ADOPTED 99-03-04 H DO PASS AS AMENDED/STANDARD DEBATE 005-000-004 HREV 99-03-04 H PLACED CAL 2ND READING-STANDARD DEBATE 99-03-16 H SECOND READING-STANDARD DEBATE 99-03-16 H HELD CAL ORDER 2ND READING-STANDARD DBT 99-03-26 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL 01-01-09 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary