IL SB2259 | 2019-2020 | 101st General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 2-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Democrat 2-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Property Tax Code. Provides for property tax incentives for newly-constructed or rehabilitated rental property if the owner of the residential real property commits that, for a period of 10 years, at least 20% of the multifamily building's units will have rents that are at or below maximum rents and are occupied by households with household incomes at or below maximum income limits. Provides that the chief county assessment officer of a county with 3,000,000 or more inhabitants shall establish such a program, and the chief county assessment officer of a county with less than 3,000,000 inhabitants shall establish such a program upon passage of an ordinance by a majority vote of the county board. Sets forth application requirements and the amount of the reduction. Effective immediately.
Title
PROP TX-AFFORDABLE HOUSING
Sponsors
Sen. Don Harmon [D] | Sen. Laura Fine [D] |
History
Date | Chamber | Action |
---|---|---|
2021-01-13 | Senate | Session Sine Die |
2020-02-28 | Senate | Added as Co-Sponsor Sen. Laura Fine |
2020-01-20 | Senate | Chief Sponsor Changed to Sen. Don Harmon |
2019-05-23 | Senate | Referred to Assignments |
2019-05-23 | Senate | First Reading |
2019-05-23 | Senate | Filed with Secretary by Sen. John J. Cullerton |
Code Citations
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2259&GAID=15&DocTypeID=SB&SessionID=108&GA=101 |
Text | https://www.ilga.gov/legislation/101/SB/10100SB2259.htm |