IL SB3243 | 2019-2020 | 101st General Assembly

Status

Completed Legislative Action
Spectrum: Partisan Bill (Democrat 13-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Illinois Municipal Code. Provides that a home rule municipality with a population in excess of 1,000,000 may restructure the rates of an existing real estate transfer tax to specified amounts. Provides that if the municipality increases the real estate transfer tax rates as provided in this subsection, then of the entire proceeds received from the real estate transfer tax, 75% shall be dedicated to the city's general budget and 25% shall be dedicated to housing and services to combat homelessness.

Tracking Information

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Title

REAL ESTATE TRANSFER REVENUE

Sponsors


History

DateChamberAction
2021-01-13SenateSession Sine Die
2020-02-18SenateAdded as Co-Sponsor Sen. Emil Jones, III
2020-02-11SenateAdded as Co-Sponsor Sen. Patricia Van Pelt
2020-02-11SenateAdded as Co-Sponsor Sen. Omar Aquino
2020-02-11SenateAdded as Chief Co-Sponsor Sen. Mattie Hunter
2020-02-11SenateAdded as Chief Co-Sponsor Sen. Celina Villanueva
2020-02-11SenateAdded as Co-Sponsor Sen. Antonio Muñoz
2020-02-11SenateAdded as Chief Co-Sponsor Sen. Ann Gillespie
2020-02-11SenateAdded as Chief Co-Sponsor Sen. Robert Peters
2020-02-11SenateAdded as Co-Sponsor Sen. Jacqueline Y. Collins
2020-02-11SenateAdded as Co-Sponsor Sen. Iris Y. Martinez
2020-02-11SenateAdded as Co-Sponsor Sen. Laura Fine
2020-02-11SenateAdded as Co-Sponsor Sen. Christopher Belt
2020-02-11SenateReferred to Assignments
2020-02-11SenateFirst Reading
2020-02-11SenateFiled with Secretary by Sen. Ram Villivalam

Code Citations

ChapterArticleSectionCitation TypeStatute Text
6558-3-19Amended CodeCitation Text

Illinois State Sources


Bill Comments

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