REVENUE-HOMEBUILDER CREDIT

Summary

The bill directs the Illinois Housing Development Authority to issue builders of new single‑family houses certificates that exempt them from several state sales‑type taxes and to grant income‑tax credits equal to 20 % of wages paid to employees. The credits cannot reduce a builder’s tax liability below zero, and any excess can be carried forward for up to five years. The measure is intended to lower construction costs and spur residential building.

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