State Policy

illinois affordable housing tax credit (IAHTC) - 2016 renewal

Illinois Senate IAHTC Renewal Bill: SB 83 (Clayborne, Martinez, Collins)

Illinois House IAHTC Renewal Bill: HB 3711 (Turner, Acevedo, Flynn-Currie)

The Illinois Affordable Housing Tax Credit (IAHTC) Program encourages private investment in affordable housing by providing donors to qualified non-profit affordable housing sponsors with a tax credit on their Illinois income tax equal to 50% of the donation.

This program leveraged the creation of 17,800 units of single family and multifamily housing spread throughout in Illinois. The total development exceeded $3.3 billion dollars, which were pumped into local units of government, vendors, and construction trades.  

Illinois Affordable Housing Tax Credit (IAHTC) Fact Sheet

Economic Analysis of IAHTC

Project Example: La Estancia 

Project Example: McKesson Lofts Employer Assisted Housing

All Projects Receiving IAHTCs (2002-2014)

Projects Receiving IAHTCs (2002-2014) by Illinois Senate Districts:

District 1
District 2
District 3
District 4
District 5
District 6
District 7
District 8
District 9
District 10
District 13
District 14
District 15
District 16
District 18
District 19
District 20
District 21
District 22
District 23
District 24
District 25
District 26
District 27
District 29
District 30
District 32
District 34
District 35
District 36
District 39
District 40
District 42
District 43
District 44 
District 45
District 46
District 47
District 48
District 49
District 50
District 52
District 53
District 54
District 55
District 56
District 57
District 58
District 59

Note: IAHTC is also known as the "Donation Tax Credit"

Several trends converged that encouraged CRN to take a deep look at the impact of State of Illinois policies on our affordable housing work in Chicago. The mid-90’s was driven by a federal policy of devolution – pushing decision-making and federal resources to States. The Public Private Finance Initiative, co-convened with the Chicago Department of Housing, targeted a discussion on creating new state resources – and the initiative included leadership from throughout Illinois. One of the results – the Illinois Affordable Housing Tax Credit – created the first new state resources in over 10 years. Our intentional efforts at strengthening leadership for affordable housing led to a current focus on ensuring that elected officials in Illinois are educated about affordable housing and community development – and as a result, CRN expanded its Affordable Housing Fact Book to include counties and municipalities throughout the State of Illinois.

National Mortgage Settlement

Enterprise Community Partners released a report showing how each state has committed its portion of the dollars resulting from the Attorneys' General settlement. Read of Illinois' leadership with those dollars here.

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