Prop Tx-affordable Housing
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- Senate
- Latest action
- Feb 5, 2020
What it does
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 20 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…
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
Reporting that may mention this subject. Possible matches are labeled.
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Where it goes next
While a bill can still move, the questions are about people and money in Illinois.