Illinois 101st Regular Session Status: In Committee Bipartisan · 3 D · 1 R cosponsors

SB 3529 — PROP TX-RENTAL HOUSING

Last action — Added as Co-Sponsor Sen. John F. Curran

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 101st Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Amends the Property Tax Code. Provides for a reduction in the assessed value of newly-constructed or rehabilitated rental property if the owner of the residential real property commits that, for a period of 10 years, at least 15% of the multifamily building's units will have rents that are at or below maximum rents and are occupied by households with household incomes at or below maximum income limits. Provides that the chief county assessment officer of a county with 3,000,000 or more inhabitants shall establish such a program. Sets forth application requirements and the amount of the reduction. Effective immediately.

Bill Text

Action History

  1. Added as Co-Sponsor Sen. John F. Curran

  2. Added as Chief Co-Sponsor Sen. Mattie Hunter

  3. Added as Co-Sponsor Sen. Ram Villivalam

  4. Added as Chief Co-Sponsor Sen. Iris Y. Martinez

  5. Referred to Assignments

  6. First Reading

  7. Filed with Secretary by Sen. Sara Feigenholtz

Sponsors

Sponsorship breakdown

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0 sponsors · 5 co-sponsors · 178 not signed on

Sponsors (0)

None.

Co-sponsors (5)

Not signed on (178)

178 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation housing
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Frequently asked questions

What does SB 3529 do?
Amends the Property Tax Code. Provides for a reduction in the assessed value of newly-constructed or rehabilitated rental property if the owner of the residential real property commits that, for a period of 10 years, at least 15% of the multifamily building's units will have rents that are at or below maximum rents and are occupied by households with household incomes at or below maximum income limits. Provides that the chief county assessment officer of a county with 3,000,000 or more inhabitants shall establish such a program. Sets forth application requirements and the amount of the reduction. Effective immediately.
Who sponsors SB 3529?
SB 3529 is sponsored by Sara Feigenholtz (Democrat), Iris Y. Martinez, Mattie Hunter (Democrat), Ram Villivalam (Democrat), and John F. Curran (Republican).
What is the current status of SB 3529?
This bill died with 101st Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 3529?
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Last checked for changes 3 months ago · updated continuously

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