IL HB5647

Requires commercial and industrial property in Bremen, Bloom, Rich, and Thornton townships in Cook County to be assessed at the same level as residential property from assessment year 2025 through assessment year 2030

Allows Cook County to establish a sliding scale for commercial and industrial property assessment levels in those four townships beginning with assessment year 2031, permitting them to align with other county commercial and industrial properties

Preempts home rule powers under Article VII, Section 6(g) of the Illinois Constitution

Takes effect immediately upon enactment