The Build Illinois Homes Tax Credit Act provides tax credits for qualified low-income housing developments in Illinois.
The Build Illinois Homes Tax Credit Act establishes a tax credit for owners of qualified low-income housing developments in Illinois. These developments must be eligible for the federal low-income housing tax credit. Owners can claim the credit against taxes imposed by the Illinois Income Tax Act or penalties, fees, charges, and taxes under the Illinois Insurance Code. The credit is awarded by the Illinois Housing Development Authority or the City of Chicago Department of Housing.
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