2025-2026 Regular SessionIllinois Legislature

SB0062: BUILD ILLINOIS HOMES ACT

Legislative Summary

Creates the Build Illinois Homes Tax Credit Act. Provides that owners of qualified low-income housing developments are eligible for credits against the taxes imposed by the Illinois Income Tax Act or taxes, penalties, fees, charges, and payments imposed by the Illinois Insurance Code. Amends the Illinois Income Tax Act and the Illinois Insurance Code to make conforming changes. Effective immediately.

Demographic Impact

Overall analysis of equity impact

70% Positive
Medium ConfidenceView detailed demographic breakdown ↓

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Bill History

1/13/2025
Filed with Secretary by Sen. Robert Peters
Senate
1/13/2025
First Reading
Senate
1/13/2025
Referred to Assignments
Senate
1/14/2025
Added as Chief Co-Sponsor Sen. Lakesia Collins
Senate
1/22/2025
Assigned to Revenue
Senate
2/11/2025
Added as Co-Sponsor Sen. Mike Simmons
Senate
2/18/2025
Added as Co-Sponsor Sen. Cristina Castro
Senate
2/19/2025
Added as Co-Sponsor Sen. Laura M. Murphy
Senate
2/25/2025
Added as Chief Co-Sponsor Sen. Graciela Guzmán
Senate
3/6/2025
Added as Co-Sponsor Sen. Adriane Johnson
Senate
3/21/2025
Rule 2-10 Committee Deadline Established As April 11, 2025
Senate
4/4/2025
Added as Co-Sponsor Sen. Linda Holmes
Senate
4/4/2025
Added as Co-Sponsor Sen. Laura Fine
Senate
4/4/2025
Added as Co-Sponsor Sen. Mike Porfirio
Senate
4/4/2025
Added as Co-Sponsor Sen. Steve Stadelman
Senate
4/10/2025
Added as Co-Sponsor Sen. Paul Faraci
Senate
4/10/2025
Added as Co-Sponsor Sen. Sara Feigenholtz
Senate
4/10/2025
Added as Co-Sponsor Sen. Meg Loughran Cappel
Senate
4/10/2025
Added as Co-Sponsor Sen. David Koehler
Senate
4/11/2025
Added as Chief Co-Sponsor Sen. Patrick J. Joyce
Senate
4/11/2025
Rule 2-10 Committee Deadline Established As May 9, 2025
Senate