REVENUE-AFFORDABLE HOUSING

Amends the Illinois Housing Development Act. Provides that the Illinois Housing Development Authority shall develop a form and include it with certain financing agreements. Amends the Property Tax Code. Provides for a reduction in assessed value for affordable rental housing construction or rehabilitation. Effective immediately. Senate Committee Amendment No. 2 Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with various technical, grammatical, and formatting corrections. Provides that the reduced valuation applies through December 31, 2031 (in the introduced bill, December 31, 2030). Provides that the special assessment program applies in counties with 3,000,000 or more inhabitants. Effective immediately. Senate Floor Amendment No. 3 Makes various grammatical and technical corrections.