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IL HB2655

Bill

Official Source

Status

Introduced

2/14/2019

Primary Sponsor

Latoya Greenwood

Click for details

Origin

House of Representatives

101st General Assembly

AI Summary

  • Amends the Property Tax Code to add a new category (paragraph 12) allowing taxing districts to abate taxes on property with affordable housing constructed in mixed-use developments with commercial property.

  • Tax abatement value under this new provision may not exceed $500,000.

  • Abatement requires majority vote approval by the taxing district's governing authority.

  • Applies to property that has been or will be constructed as part of a mixed commercial and residential development.

Legislative Description

PROP TX-ABATE MIXED USE

Last Action

Rule 19(a) / Re-referred to Rules Committee

3/29/2019

Committee Referrals

Rules3/29/2019
Property Tax3/6/2019
Revenue & Finance2/26/2019
Rules2/14/2019

Full Bill Text

No bill text available