Illinois Administrative Code
Title 17 - CONSERVATION
Part 4150 - TAX INCENTIVES TO REHABILITATE OWNER-OCCUPIED HISTORIC RESIDENCES
Section 4150.20 - Definitions
Universal Citation: 17 IL Admin Code ยง 4150.20
Current through Register Vol. 48, No. 12, March 22, 2024
a) The definitions set forth in Section 20 (j-1) of the Revenue Act of 1939 will apply throughout this Part.
b) The following definitions will apply throughout this Part in lieu of those set forth in the Act:
1) "Rehabilitation period" means the
period of time necessary to renovate, restore, preserve or rehabilitate an
historic building which commences on the first day of construction.
2) "Substantial rehabilitation" means a
rehabilitation project that provides a visible community benefit that enhances
or improves the condition of the historic building and involves at a minimum,
the exterior of the historic building.
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