IL HB1750

Amends the Property Tax Code to allow any taxing district, upon majority vote, to abate taxes on essential business property that demonstrates financial hardship due to operational restrictions during the 2020 and 2021 tax years from the COVID-19 pandemic.

Defines "essential business property" as commercial property owned by an owner of an essential business or operation as defined in Executive Order 2020-10 dated March 20, 2020.

Abatement may be ordered for any given year on qualifying essential business property and does not specify a maximum abatement period or dollar cap.

Takes effect immediately upon becoming law.