State Capitol Report summarizes week one of annual fall session

Illinois State Capitol Building Interior

Illinois REALTORS® oppose a change to the Residential Real Property Disclosure Act (Senate Bill 168) and support the extension of the Affordable Housing Tax Credit (Senate Bill 2921) to Dec. 31, 2021, according to the latest State Capitol Report (login required). The tax credit is due to expire at the end of 2016.

The Illinois General Assembly considered these bills and more last week in Springfield before adjourning for the Thanksgiving holiday. State senators and representatives are due back in session Tuesday, Nov. 29. In addition to monitoring these two bills, the association has taken a neutral stance on three other pieces of legislation discussed last week:

  • two amendments for Senate Bill 2566 – one extending the fee for the Abandoned Residential Property Municipality Relief Fund to Jan. 1 2018 and the other extending it to Jan. 1, 2020;
  • the addition of eight provisions to the Special Services Area Tax Law in the City of Chicago through House Bill 1384; and
  • extending the life of a tax increment financing district in the village of Milledgeville through Senate Bill 3451.

For more details on these bills, a proposed constitutional amendment limiting terms of office for members of the General Assembly and statewide executive offices, and action regarding three bills vetoed in the Spring Session by Gov. Bruce Rauner, read the Nov. 18 State Capitol Report by Julie Sullivan, assistant director, legislative and political affairs.

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