Bill Title: Amends the Property Tax Code. In provisions concerning a reduction in assessed value for affordable rental housing construction or rehabilitation, provides that, for the purpose of an initial application and only until the building is put in service, an owner may provide proof of either a deed restriction or participation in a government program that includes legally enforceable affordability requirements comparable to the requirements set forth in those provisions, and the chief county assessment officer shall furnish a letter of intent to the applicant. Makes changes to the definition of "assessed value for the residential real property in the base year". Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-02-18 - Rule 19(a) / Re-referred to Rules Committee [HB4495 Detail]

Text: Latest bill text (Introduced) [HTML]

---

PolitiCorps Conversations

Start PolitiCorps Debate

Title	PolitiCorps	Access	Comments	Views	Last Post
There are no visible public or private PolitiCorps discussions concerning the 2021 Illinois HB4495 at this time.

Social Comments on IL HB4495