HB1448 101ST GENERAL ASSEMBLY

LRB101 06962 HLH 51995 b

101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB1448

Introduced , by Rep. Maurice A. West II

SYNOPSIS AS INTRODUCED:

35 ILCS 200/18-185.15 new

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.

FISCAL NOTE ACT MAY APPLY

HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning revenue.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Property Tax Code is amended by adding Section 18-185.15 as follows:

(35 ILCS 200/18-185.15 new)

Sec. 18-185.15. Home ownership incentive programs. Any taxing district, upon a majority vote of its governing authority, may, after the determination of the assessed valuation of its property, order the clerk of that county to abate any portion of its taxes on any property in the 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 that taxing district by ordinance or resolution (including, but not limited to, any such program adopted through intergovernmental agreement in concert with other taxing districts).