IllinoisSB2126104th General Assembly (2025–2026)Senate

PROP TX-AFFORDABLE HOUSING

Sponsored By: Doris Turner (Democratic)

In Committee

Summary

Amends the Property Tax Code. Provides that property that is owned by a faith-based organization or an organization described under Section 501(c)(3) of the Internal Revenue Code of 1986 that is leased for a minimum of 50 years for the purpose of, and is predominantly used for, providing affordable housing for households with a household income of between 20% and 90% of the area median income is exempt from taxation under the Code until (i) the end of the ground lease term or (ii) the first taxable year during which the property is no longer used for affordable housing purposes, whichever occurs first. Provides that taxing districts may abate all or a portion of the property taxes levied on a qualified affordable housing developments.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Doris Turner

    Democratic • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Referred to Assignments

    2/7/2025Senate
  2. First Reading

    2/7/2025Senate
  3. Filed with Secretary by Sen. Doris Turner

    2/7/2025Senate

Bill Text

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