HB 5035 Illinois House · 103rd Regular Session

PROP TX-AFFORDABLE HOUSING

Summary
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.
Bill status in committee 1 of 4 stages cleared
Introduction
Feb 2024
Committee Review
Floor Vote
Governor
Introduced Feb 7, 2024 Last action Apr 5, 2024
Floor votes

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Full legislative history

Actions timeline

Total actions
6
Key actions
1
Committee
4
Apr 5, 2024
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
Mar 8, 2024
Lower · Passed
To Revenue - Property Tax Subcommittee
lower
Mar 5, 2024
Committee
Assigned to Revenue & Finance Committee
lower
Feb 8, 2024
Committee
Referred to Rules Committee
lower
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Eva-Dina Delgado
Eva-Dina Delgado
DDemocratic
IL
3