Donations tax credit
Illinois Affordable Housing Tax Credit
To preserve and develop affordable housing we need resources. The Illinois Affordable Housing Tax Credit will generate new dollars for down payment assistance and gap financing to reduce the cost of housing development and preservation. The program leverages $26 million-$13 million in forgone state revenue, and $13 million in private donations-for affordable housing in Illinois. The Illinois Affordable Housing Tax Credit (formerly SB 1135) was sponsored by Senators William Peterson (R, 26) and Representative Arthur Turner (D, 9).
For inquiries about how to apply for these new credits, please contact the Illinois Housing Development Authority or the Chicago Department of Housing.
Download a factsheet (24K PDF) and a flowchart (31K PDF) of the process for using the Tax Credit
The final version of the legislation is now Public Act 92-0491.
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