Bill Title: Amends the Property Tax Code. Creates an abatement for property located in a blighted area if the owner of the property enters into an agreement with the corporate authorities of the municipality in which the property is located for the renovation, demolition, or improvement of the property. Provides that the abatement shall apply for a period of 10 years and may be extended for an additional 10 years if the chief county assessment officer finds that the property owner has made a good faith effort to renovate, demolish, or improve the property. Effective immediately.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee [HB5284 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2020-02-14	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB5284

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB5284 currently on file.

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