Illinois General Assembly - Bill Status for HB5434
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 Bill Status of HB5434  102nd General Assembly

Short Description:  INC TX-LANDLORD CREDIT

House Sponsors
Rep. Deanne M. Mazzochi

Last Action
DateChamber Action
  1/31/2022HouseReferred to Rules Committee

Statutes Amended In Order of Appearance
35 ILCS 5/232 new

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.

DateChamber Action
  1/28/2022HouseFiled with the Clerk by Rep. Deanne M. Mazzochi
  1/31/2022HouseFirst Reading
  1/31/2022HouseReferred to Rules Committee

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