Illinois Senate Bill 3529 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Moderate Partisan Bill (Democrat 4-1)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Property Tax Code. Provides for a reduction in the assessed value of newly-constructed or rehabilitated rental property if the owner of the residential real property commits that, for a period of 10 years, at least 15% 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. Sets forth application requirements and the amount of the reduction. Effective immediately.

PROP TX-RENTAL HOUSING

Sen. Sara Feigenholtz [D]	Sen. Iris Martinez [D]	Sen. Mattie Hunter [D]	Sen. Ram Villivalam [D]
Sen. John Curran [R]

Date	Chamber	Action
2021-01-13	Senate	Session Sine Die
2020-03-03	Senate	Added as Co-Sponsor Sen. John F. Curran
2020-02-26	Senate	Added as Chief Co-Sponsor Sen. Mattie Hunter
2020-02-26	Senate	Added as Co-Sponsor Sen. Ram Villivalam
2020-02-20	Senate	Added as Chief Co-Sponsor Sen. Iris Y. Martinez
2020-02-14	Senate	Referred to Assignments
2020-02-14	Senate	First Reading
2020-02-14	Senate	Filed with Secretary by Sen. Sara Feigenholtz

Chapter	Article	Section	Citation Type	Statute Text
35	200	15-178	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3529&GAID=15&DocTypeID=SB&SessionID=108&GA=101
Text	https://www.ilga.gov/legislation/101/SB/10100SB3529.htm