IL HB3466

Extends the deadline for owners to apply for affordable housing special assessment programs from December 31, 2027 to December 31, 2037, and protects approved properties from losing eligibility if the program expires or a county opts out

Requires that properties receiving other public financing, subsidies, or subject to regulatory agreements with public entities remain eligible for the affordable housing reduced valuation programs

Mandates that county assessment officers must make application forms publicly available (using Illinois Department of Revenue forms if they haven't created their own) and publish all program requirements on county websites

Requires the Illinois Housing Development Authority to annually calculate and publish on its website the minimum per square foot expenditure requirements for qualifying rehabilitation, including historical data starting from calendar year 2021

Changes terminology from "improvements to existing residential real property" to "substantially rehabilitated residential real property" throughout the statute