Illinois General Assembly - Bill Status for HB5865
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 Bill Status of HB5865  100th General Assembly

Short Description:  PROP TX-RENTAL HOUSING

House Sponsors
Rep. Sara Feigenholtz

Last Action
DateChamber Action
  1/8/2019HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 200/15-178 new

Synopsis As Introduced
Amends the Property Tax Code. Provides for a reduction in the equalized assessed value of rental property if the owner of the residential real property commits that, for a period of 10 years, at least 15% of the multifamily building's units will have rents that are at or below maximum rents and are occupied by households with household incomes at or below maximum income limits. Sets forth application requirements and the amount of the reduction. Provides that the chief county assessment officer of any county with 3,000,000 or more inhabitants shall, and the chief assessment officer of any county with less than 3,000,000 inhabitants may, make such reductions. Effective immediately.

DateChamber Action
  4/19/2018HouseFiled with the Clerk by Rep. Sara Feigenholtz
  4/19/2018HouseFirst Reading
  4/19/2018HouseReferred to Rules Committee
  1/8/2019HouseSession Sine Die

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