INC TX-AFFORDABLE HOUSING

Amends the Illinois Income Tax Act. Extends the tax credit for affordable housing donations until December 31, 2026. House Committee Amendment No. 1 Adds reference to: 20 ILCS 3805/7.28 Adds provisions to the introduced bill amending the Illinois Housing Development Act. Provides that the amount of tax credits reserved by the administrative housing agency for an approved project under the affordable housing tax donation credit program is limited to $32,850,352 in State fiscal years 2022 and 2023 and shall be increased by 5% in each fiscal year thereafter. House Floor Amendment No. 3 Further amends the Illinois Housing Development Act. In provisions concerning the affordable housing tax donation credit program, provides that, for property that is for sale to homeowners, the gross monthly income standard is based on 120% (currently, 60%) of the area median income.