Illinois General Assembly - Bill Status for HB2416
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 Bill Status of HB2416  103rd General Assembly


House Sponsors
Rep. Michael T. Marron

Last Action
DateChamber Action
  2/15/2023HouseReferred to Rules Committee

Statutes Amended In Order of Appearance
20 ILCS 3805/7.33 new
35 ILCS 200/21-256 new
30 ILCS 105/5.990 new

Synopsis As Introduced
Amends the Illinois Housing Development Act. Provides that the Illinois Housing Development Authority shall establish and administer a Land Bank Operations Program to make annual grants to intergovernmental or county land bank authorities. Requires the Illinois Housing Development Authority to maintain a Technical Assistance Network for the Land Bank Operations Program. Amends the Property Tax Code. Provides that tax purchasers shall pay to the county collector a land bank operations fee of $200 for each certificate purchased. Provides that the proceeds from the fee shall be disbursed as follows: (i) 95% of the proceeds shall be remitted to the State Treasurer for deposit into the Land Bank Operations Fund; and (ii) 5% may be retained by the county collector. Provides that moneys in the Land Bank Operations Fund shall be used for the Land Bank Operations Program. Amends the State Finance Act to create the Land Bank Operations Fund.

DateChamber Action
  2/14/2023HouseFiled with the Clerk by Rep. Michael T. Marron
  2/15/2023HouseFirst Reading
  2/15/2023HouseReferred to Rules Committee

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