Synopsis As Introduced Creates the Rent Control Act. Establishes 6 regional rent control boards in the State. Provides for the election of 7 members to each board beginning in the 2021 consolidated election. Provides that a board shall establish regulations concerning rent stabilization rates for specified lessors and shall impose rent control registration fees to fund a Small Rental Property Owner Repairs and Improvement Fund. Includes enforcement provisions against landlords who charge rent in excess of amounts allowed by the Act. Limits home rule powers except in home rule units that enact a specified rent stabilization regime. Amends the Election Code making conforming changes. Amends the Illinois Income Tax Act. Creates rent-controlled and rental property capital improvement tax credits. Amends the Code of Civil Procedure. Creates procedures for terminating a tenancy or lease of one year or more after expiration of the lease. Provides that a lessor may terminate a lease and recover possession, after providing specified notice and monetary relocation assistance: if the lessor or a qualified relative will reside at the premises; if the lessor is going to substantially rehabilitate, remodel, or repair the premises; or if the lessor intends to demolish or permanently remove the premises from residential use. Provides for damages for failure to pay lessee relocation assistance or for failure to act in good faith in seeking to recover possession under the provisions. Provides that a demand or notice must be accessible to a lessor by being presented in the language of the lessor and contain a statement that the lessor may seek legal advice. Makes other changes. Repeals the Rent Control Preemption Act. Effective immediately.