101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB1448

 

Introduced , by Rep. Maurice A. West II

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/18-185.15 new

    Amends the Property Tax Code. Provides for a property tax abatement for property located in a taxing district that: (i) is owner-occupied; (ii) is the owner's primary residence; and (iii) meets the criteria of a residential home ownership incentive program adopted by the taxing district.


LRB101 06962 HLH 51995 b

FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB1448LRB101 06962 HLH 51995 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Property Tax Code is amended by adding
5Section 18-185.15 as follows:
 
6    (35 ILCS 200/18-185.15 new)
7    Sec. 18-185.15. Home ownership incentive programs. Any
8taxing district, upon a majority vote of its governing
9authority, may, after the determination of the assessed
10valuation of its property, order the clerk of that county to
11abate any portion of its taxes on any property in the taxing
12district that: (i) is owner-occupied; (ii) is the owner's
13primary residence; and (iii) meets the criteria of a
14residential home ownership incentive program adopted by that
15taxing district by ordinance or resolution (including, but not
16limited to, any such program adopted through intergovernmental
17agreement in concert with other taxing districts).