DCEO-DATA CENTERS

Summary

If enacted, this bill would require qualified data center operators in Illinois to execute community benefit agreements with host communities and make annual minimum payments equal to at least 10% of the property tax that would have been levied on the data center property. At least 50% of those payments must be used to provide financial benefits to eligible homestead property owners to offset residential tax burdens. The bill does not directly affect mortgage lenders, servicers, or other regulated financial entities.