state_legiscan_drain · IL
IDHA-COMMUNITY LAND TRUST
May 15, 2026
Summary
This bill, effective immediately, requires the Illinois Housing Development Authority to develop expertise in community land trust models and implement procedures removing barriers to community land trust projects. It also exempts from property taxes real estate owned by nonprofit community land trusts and used for permanently affordable owner-occupied housing, reducing costs for homeowners and preserving long-term affordability.
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=5777&GAID=18&DocTypeID=HB&SessionID=114&GA=104
Common questions
- What does "IDHA-COMMUNITY LAND TRUST" cover?
- This bill, effective immediately, requires the Illinois Housing Development Authority to develop expertise in community land trust models and implement…
- When was it published?
- It was published on May 15, 2026.