REAL ESTATE TRANSFER REVENUE
Summary
Amends the Illinois Municipal Code. Provides that a home rule municipality with a population in excess of 1,000,000 may restructure the rates of an existing real estate transfer tax to specified amounts. Provides that if the municipality increases the real estate transfer tax rates as provided in this subsection, then of the entire proceeds received from the real estate transfer tax, 75% shall be dedicated to the city's general budget and 25% shall be dedicated to housing and services to combat homelessness.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2020
Committee Review
Floor Vote
Governor
Introduced Feb 11, 2020
Last action Jun 23, 2020
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
29
Key actions
0
Committee
3
Jun 23, 2020
Committee
Rule 19(b) / Re-referred to Rules Committee
lower
Mar 12, 2020
Committee
Assigned to Revenue & Finance Committee
lower
Feb 18, 2020
Committee
Referred to Rules Committee
lower
0 primary · 24 co-sponsors
Sponsors
No sponsor information available.
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