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HB4841 • 2026
INC TX-AFFORDABLE HOUSING
This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.
Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.
INC TX-AFFORDABLE HOUSING
These notes stay tied to the official amendment files and metadata from the legislature.
Plain English: Illinois General Assembly - Full Text of HB4841 Select Language × The Illinois General Assembly offers the Google Translate™ service for visitor convenience.
Rule 19(a) / Re-referred to Rules Committee
Second Reading - Short Debate
Held on Calendar Order of Second Reading - Short Debate
Recommends Do Pass Subcommittee/ Revenue & Finance Committee ; 005-000-000
Reported Back To Revenue & Finance Committee ;
House Committee Amendment No. 1 Adopted in Revenue & Finance Committee ; by Voice Vote
Do Pass as Amended / Short Debate Revenue & Finance Committee ; 020-000-000
Placed on Calendar 2nd Reading - Short Debate
House Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
House Committee Amendment No. 1 Filed with Clerk by Rep. Martha Deuter
House Committee Amendment No. 1 Referred to Rules Committee
To Tax Policy: Other Taxes Subcommittee
Assigned to Revenue & Finance Committee
First Reading
Referred to Rules Committee
Filed with the Clerk by Rep. Martha Deuter
INC TX-AFFORDABLE HOUSING
Illinois General Assembly - Full Text of HB4841 Select Language × The Illinois General Assembly offers the Google Translate™ service for visitor convenience. In no way should it be considered accurate as to the translation of any content herein. Visitors of the Illinois General Assembly website are encouraged to use other translation services available on the internet. The English language version is always the official and authoritative version of this website. NOTE: To return to the original English language version, select the "Show Original" button on the Google Translate™ menu bar at the top of the window. 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Full Text of HB4841 Home Legislation Full Text HB4841 - 104th General Assembly Bill Status Full Text Votes Witness Slips Select Menu Bill Status Full Text Votes Witness Slips Printer Friendly Version Introduced House Amendment 001 Printer Friendly Version Introduced House Amendment 001 Open PDF 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB4841 Introduced , by Rep. Martha Deuter SYNOPSIS AS INTRODUCED: 35 ILCS 5/214 Amends the Illinois Income Tax Act. Provides that the tax credit for affordable housing donations applies permanently. Effective immediately. LRB104 18803 HLH 32246 b A BILL FOR HB4841 LRB104 18803 HLH 32246 b 1 AN ACT concerning revenue. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Illinois Income Tax Act is amended by 5 changing Section 214 as follows: 6 (35 ILCS 5/214) 7 Sec. 214. Tax credit for affordable housing donations. 8 (a) For Beginning with taxable years ending on or after 9 December 31, 2001 and until the taxable year ending on 10 December 31, 2026 , a taxpayer who makes a donation under 11 Section 7.28 of the Illinois Housing Development Act is 12 entitled to a credit against the tax imposed by subsections 13 (a) and (b) of Section 201 in an amount equal to 50% of the 14 value of the donation. For taxable years ending before 15 December 31, 2023, partners, shareholders of subchapter S 16 corporations, and owners of limited liability companies (if 17 the limited liability company is treated as a partnership for 18 purposes of federal and State income taxation) are entitled to 19 a credit under this Section to be determined in accordance 20 with the determination of income and distributive share of 21 income under Sections 702 and 703 and subchapter S of the 22 Internal Revenue Code. For taxable years ending on or after 23 December 31, 2023, partners and shareholders of subchapter S HB4841 - 2 - LRB104 18803 HLH 32246 b 1 corporations are entitled to a credit under this Section as 2 provided in Section 251. Persons or entities not subject to 3 the tax imposed by subsections (a) and (b) of Section 201 and 4 who make a donation under Section 7.28 of the Illinois Housing 5 Development Act are entitled to a credit as described in this 6 subsection and may transfer that credit as described in 7 subsection (c). 8 (b) If the amount of the credit exceeds the tax liability 9 for the year, the excess may be carried forward and applied to 10 the tax liability of the 5 taxable years following the excess 11 credit year. The tax credit shall be applied to the earliest 12 year for which there is a tax liability. If there are credits 13 for more than one year that are available to offset a 14 liability, the earlier credit shall be applied first. 15 (c) The transfer of the tax credit allowed under this 16 Section may be made (i) to the purchaser of land that has been 17 designated solely for affordable housing projects in 18 accordance with the Illinois Housing Development Act or (ii) 19 to another donor who has also made a donation in accordance 20 with Section 7.28 of the Illinois Housing Development Act. 21 (d) A taxpayer claiming the credit provided by this 22 Section must maintain and record any information that the 23 Department may require by regulation regarding the project for 24 which the credit is claimed. When claiming the credit provided 25 by this Section, the taxpayer must provide information 26 regarding the taxpayer's donation to the project under the HB4841 - 3 - LRB104 18803 HLH 32246 b 1 Illinois Housing Development Act. 2 (e) This Section is exempt from the provisions of Section 3 250. 4 (Source: P.A. 102-16, eff. 6-17-21; 102-175, eff. 7-29-21; 5 103-396, eff. 1-1-24 .) 6 Section 99. Effective date. This Act takes effect upon 7 becoming law. Footer Disclaimer This site is maintained for the Illinois General Assembly by the Legislative Information System, 705 Stratton Building, Springfield, Illinois 62706. Contact ILGA Webmaster ILGA.gov uses cookies to ensure you get the best experience on our website. By continuing to browse ILGA.gov you consent to our use of cookies. 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