HB 5071 Illinois House · 101st Regular Session

PROP TX-AFFORDABLE HOUSING

Summary
Amends the Property Tax Code. Provides for property tax incentives for newly-constructed or rehabilitated rental property if the owner of the residential real property commits that, for a period of 10 years, at least 20% 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, and the chief county assessment officer of a county with less than 3,000,000 inhabitants shall establish such a program upon passage of an ordinance by a majority vote of the county board. Sets forth application requirements and the amount of the reduction. Effective immediately.
Bill status in committee 1 of 4 stages cleared
Introduction
Feb 2020
Committee Review
Floor Vote
Governor
Introduced Feb 13, 2020 Last action Jun 23, 2020
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
11
Key actions
1
Committee
6
Amendments
1
Jun 23, 2020
Committee
House Committee Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee
lower
Jun 23, 2020
Committee
Rule 19(b) / Re-referred to Rules Committee
lower
May 22, 2020
Lower · Passed
House Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
lower
May 15, 2020
Committee
House Committee Amendment No. 1 Referred to Rules Committee
lower
May 15, 2020
Introduced
House Committee Amendment No. 1 Filed with Clerk by Rep. Emanuel Chris Welch
lower
Mar 12, 2020
Committee
Assigned to Revenue & Finance Committee
lower
Feb 18, 2020
Committee
Referred to Rules Committee
lower
0 primary · 3 co-sponsors

Sponsors

No sponsor information available.