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| | 101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB1448 Introduced , by Rep. Maurice A. West II SYNOPSIS AS INTRODUCED:
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| 35 ILCS 200/18-185.15 new | |
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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.
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| | | FISCAL NOTE ACT MAY APPLY | | HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY |
| | A BILL FOR |
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| | HB1448 | | LRB101 06962 HLH 51995 b |
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| 1 | | AN ACT concerning revenue.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Property Tax Code is amended by adding |
| 5 | | Section 18-185.15 as follows:
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| 6 | | (35 ILCS 200/18-185.15 new) |
| 7 | | Sec. 18-185.15. Home ownership incentive programs. Any |
| 8 | | taxing district, upon a majority vote of its governing |
| 9 | | authority,
may, after the determination of the assessed |
| 10 | | valuation of its property, order
the clerk of that county to |
| 11 | | abate any portion of its taxes on any property in the taxing |
| 12 | | district that: (i) is owner-occupied; (ii) is the owner's |
| 13 | | primary residence; and (iii) meets the criteria of a |
| 14 | | residential home ownership incentive program adopted by that |
| 15 | | taxing district by ordinance or resolution (including, but not |
| 16 | | limited to, any such program adopted through intergovernmental |
| 17 | | agreement in concert with other taxing districts).
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