Bill Title: Amends the Property Tax Code. Creates a reduction in assessed value for property that contains a residential structure that is leased to at least one individual who participates in a qualifying income-based rental subsidy program. Provides that the reduction shall be equal to $2,000 multiplied by the number of residential units on the property that are rented to an individual who participates in a qualifying income-based rental subsidy program. Effective immediately.
Sponsorship: Partisan Bill (Democrat 1)
Status: (Failed) 2025-01-07 - Session Sine Die
[HB5035 Detail]
Bill Drafts
| Revision | Date | Format | Source | View |
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| Introduced | 2024-02-07 | HTML/Text | Link | View |
Amendments
| Amendment | Date | Disposition | Format | Source | View |
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| No bill amendments currently on file for Illinois HB5035 |
Supplemental Documents
| Title | Description | Date | Format | Source | View |
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| No supplemental documents for Illinois HB5035 currently on file. |
