state_legiscan_drain · IL
CORP OWNERSHIP REAL ESTATE
February 5, 2026
Summary
If enacted, this bill would impose an annual fee of 10% of property value on institutional real estate investors owning more than 10 single-family or 8 multi-family homes in Illinois, with the fee directed to the Illinois Affordable Housing Trust Fund. It would also prohibit covered entities from purchasing residential property unless it has been listed for sale for at least 90 days, subject to civil penalties up to $250,000. Affected entities must disclose their status to sellers and file with the Department of Human Services.
AI-generated summary · Jun 8, 2026. Verify with your compliance counsel before acting.
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Source: https://www.ilga.gov/Legislation/BillStatus?DocNum=3501&GAID=18&DocTypeID=SB&SessionID=114&GA=104
Common questions
- What does "CORP OWNERSHIP REAL ESTATE" cover?
- If enacted, this bill would impose an annual fee of 10% of property value on institutional real estate investors owning more than 10 single-family or 8…
- When was it published?
- It was published on February 5, 2026.
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