Bill Status of HB5434 102nd General Assembly
Short Description: INC TX-LANDLORD CREDIT
Rep. Deanne M. Mazzochi
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates an income tax credit for qualified landlords. Provides that the term "qualified landlord" means an individual, partnership, trust, or corporation that incurred rental income losses from residential rental property as a result of the COVID-19 eviction moratorium and (1) owns fewer than 7 residential rental units in the State; or (2) actively maintains at least 25% of its rental units as affordable housing. Effective immediately.