Bill Title: 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.

Spectrum: Partisan Bill (Democrat 25-0)

Status: (Introduced - Dead) 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee [HB4826 Detail]

Text: Latest bill text (Introduced) [HTML]

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