Illinois House Bill 2416

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 14 2023 - 25% progression
Action: 2023-02-15 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Housing Development Act. Provides that the Illinois Housing Development Authority shall establish and administer a Land Bank Operations Program to make annual grants to intergovernmental or county land bank authorities. Requires the Illinois Housing Development Authority to maintain a Technical Assistance Network for the Land Bank Operations Program. Amends the Property Tax Code. Provides that tax purchasers shall pay to the county collector a land bank operations fee of $200 for each certificate purchased. Provides that the proceeds from the fee shall be disbursed as follows: (i) 95% of the proceeds shall be remitted to the State Treasurer for deposit into the Land Bank Operations Fund; and (ii) 5% may be retained by the county collector. Provides that moneys in the Land Bank Operations Fund shall be used for the Land Bank Operations Program. Amends the State Finance Act to create the Land Bank Operations Fund.

PROP TX-LAND BANK OPERATIONS

Rep. Michael Marron [R]

Date	Chamber	Action
2023-02-15	House	Referred to Rules Committee
2023-02-15	House	First Reading
2023-02-14	House	Filed with the Clerk by Rep. Michael T. Marron

Chapter	Article	Section	Citation Type	Statute Text
20	3805	7.33	New Code	See Bill Text
30	105	5.990	New Code	See Bill Text
35	200	21-256	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2416&GAID=17&DocTypeID=HB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/HB/10300HB2416.htm