Illinois Governor Pat Quinn has extended the state tax credit for private investors who develop affordable housing.
CHICAGO (AP) — Illinois Governor Pat Quinn has extended the state tax credit for private investors who develop affordable housing. Quinn said Monday the 50 percent affordable housing income tax credit was set to expire next year. The Democratic governor says the credit is now available through 2016. Quinn, speaking outside a new development on Chicago’s South Side, said he believes 15,000 jobs will be created as a result of the extension. The credit is available through the Illinois Housing Development Authority. IHDA favors projects serving lower-income and special needs populations. The governor also signed other housing related laws, including an extension of an act giving eligible homeowners more time with housing counselors to come with plans to catch up with mortgage payments. Copyright 2010 The Associated Press.
