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IL HB0367

Bill

Official Source

Status

Failed

1/8/2019

Primary Sponsor

LaShawn Ford

Click for details

Origin

House of Representatives

100th General Assembly

AI Summary

  • Creates the Value After Rehabilitation Appraisal Act as a new Illinois housing law.
  • Permits state-administered programs that require real estate appraisals to take value after rehabilitation into account, unless prohibited by federal law or regulation.
  • Requires appraisals accounting for post-rehabilitation value to be accepted on equal terms with other standard appraisal methods for real estate sales and refinances.

Legislative Description

APPRAISALS-VALUE AFTER REHAB

Last Action

Session Sine Die

1/8/2019

Committee Referrals

Rules3/31/2017
Property Tax2/24/2017
Revenue & Finance1/25/2017
Rules1/12/2017

Full Bill Text

No bill text available