Illinois General Assembly - Bill Status for SB2259
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 Bill Status of SB2259  101st General Assembly


Senate Sponsors
Sen. Don Harmon and Laura Fine

Last Action
DateChamber Action
  1/13/2021SenateSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 200/15-178 new

Synopsis As Introduced
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 10 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 the county board. Sets forth application requirements and the amount of the reduction. Effective immediately.

DateChamber Action
  5/23/2019SenateFiled with Secretary by Sen. John J. Cullerton
  5/23/2019SenateFirst Reading
  5/23/2019SenateReferred to Assignments
  1/20/2020SenateChief Sponsor Changed to Sen. Don Harmon
  2/28/2020SenateAdded as Co-Sponsor Sen. Laura Fine
  1/13/2021SenateSession Sine Die

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