Bill Status of HB5538 98th General Assembly
Short Description: PROPERTY TAX-HOUSING INCENTIVE
Rep. Camille Y. Lilly - Deborah Conroy - Barbara Flynn Currie
| 12/3/2014||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Property Tax Code. Expands the housing opportunity area abatement program to also include long-term project-based Section 8 contracts (currently only housing choice voucher contracts). Provides that the portions of the program relating to long-term project-based Section 8 contracts shall be administered by the Illinois Housing Development Authority. Defines "long-term project-based Section 8 contract" and "Section 8", redefines "housing opportunity area", and makes other conforming changes. Extends the housing opportunity area abatement program through tax year 2024 (currently tax year 2014). Effective immediately.