IL HB5035 | 2023-2024 | 103rd General Assembly

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 7 2024 - 25% progression
Action: 2024-04-05 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

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.

Tracking Information

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Title

PROP TX-AFFORDABLE HOUSING

Sponsors


History

DateChamberAction
2024-04-05HouseRule 19(a) / Re-referred to Rules Committee
2024-03-08HouseTo Revenue - Property Tax Subcommittee
2024-03-05HouseAssigned to Revenue & Finance Committee
2024-02-08HouseReferred to Rules Committee
2024-02-08HouseFirst Reading
2024-02-07HouseFiled with the Clerk by Rep. Eva-Dina Delgado

Code Citations

ChapterArticleSectionCitation TypeStatute Text
3520015-178.1New CodeSee Bill Text

Illinois State Sources


Bill Comments

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