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APPENDIX "A" 6/86 <br />REPORT <br />The Sixth Annual Illinois Preservation Conference <br />6 June 1956 <br />•� Aurora University <br />Aurora, Illinois <br />The conference was sponsored by the Landmarks Preservation Council of <br />Illinois with the Aurora Preservation Commission acting as the host <br />organization. <br />UPCOMING CONFERENCES <br />The 40th National Preservation Conference sponsored by the National <br />Trust for Historic Preservation will be held in Kansas City, MO on <br />October 15-19, 1986. One of the conference tracks will include a look <br />at the rural conservation issue. <br />The Seventh Annual Illinois Preservation Conference will be held in <br />Quincy, Illinois. This conference is scheduled for the first weekend <br />in June, 1987. <br />NATIONAL TRUST <br />The National Trust has set up a new organization entitled the National <br />Center for Preservation Policy Studies. It will research and analyze <br />preservation policy and coordinate lobbying efforts. <br />ILLINOIS ASSOCIATION OF HISTORIC PRESERVATION COMMISSIONS <br />The IAHPC is initiating a study on the effects of historic district <br />designation to property values. Bloomington and Aurora, Illinoi-s will <br />be the model towns, but a methodology will be set up for other <br />communities to use the procedure. Note: Aurora was one of the top <br />three ordinances recommended by Richard Roddewig when he was here. <br />INVESTMENT TAX CREDIT <br />The current status of the investment tax credits (ITC) was reviewed. <br />The US House of Representatives has passed a resolution to reduce the <br />tax credits as a result of the income tax simplification process. The <br />25X credit for certified historic rehab has been reduced to 20X and <br />the 20% and 15% credits for non -historic rehab have been reduced to a <br />single 10% level. Rules for the transition period have been set. The <br />most serious threat to the ITC is the passive loss limitations. <br />Attached is a sheet explaining the current transition and passive loss <br />rules. <br />The Senate Finance Committee began deliberations on its version on <br />June 2. Conferees were advised of the immediacy of the situation and <br />40 <br />