IL HB2416 | 2023-2024 | 103rd General Assembly

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 14 2023 - 25% progression
Action: 2023-02-15 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Illinois Housing Development Act. Provides that the Illinois Housing Development Authority shall establish and administer a Land Bank Operations Program to make annual grants to intergovernmental or county land bank authorities. Requires the Illinois Housing Development Authority to maintain a Technical Assistance Network for the Land Bank Operations Program. Amends the Property Tax Code. Provides that tax purchasers shall pay to the county collector a land bank operations fee of $200 for each certificate purchased. Provides that the proceeds from the fee shall be disbursed as follows: (i) 95% of the proceeds shall be remitted to the State Treasurer for deposit into the Land Bank Operations Fund; and (ii) 5% may be retained by the county collector. Provides that moneys in the Land Bank Operations Fund shall be used for the Land Bank Operations Program. Amends the State Finance Act to create the Land Bank Operations Fund.

Tracking Information

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Title

PROP TX-LAND BANK OPERATIONS

Sponsors


History

DateChamberAction
2023-02-15HouseReferred to Rules Committee
2023-02-15HouseFirst Reading
2023-02-14HouseFiled with the Clerk by Rep. Michael T. Marron

Code Citations

ChapterArticleSectionCitation TypeStatute Text
2038057.33New CodeSee Bill Text
301055.990New CodeSee Bill Text
3520021-256New CodeSee Bill Text

Illinois State Sources


Bill Comments

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