Bill Title: Creates the Short-Term Rental Excise Tax Act. Imposes a tax upon renters of short-term rentals at the rate of 4% of the rental price of those short-term rentals. Provides that the proceeds from the tax shall be deposited into the Community Land Trust Fund. Amends the State Finance Act to create the Community Land Trust Fund. Provides that moneys in the Community Land Trust Fund shall be used by the Illinois Housing Development Authority for development, staffing, and capacity building and technical assistance related to community land trusts in the State. Amends the Community Land Trust Home Ownership Act. Makes changes to the definition of community land trust. Effective immediately.

Sponsorship: Partisan Bill (Democrat 2)

Status: (Introduced - Dead) 2026-05-29 - Added Co-Sponsor Rep. Lilian Jiménez [HB5776 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2026-05-15	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB5776

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB5776 currently on file.