Illinois HB3209 establishes a pilot program to reimburse municipalities for revenue loss due to tax-exempt state property.
Illinois HB3209 amends the Department of Revenue Law to create a Municipal Property Tax Relief Reimbursement Pilot Program. This program, effective for state fiscal years beginning between July 1, 2026, and July 1, 2031, will reimburse eligible municipalities for revenue loss caused by tax-exempt state property. Reimbursements are calculated based on the difference between the property tax revenue that would have been collected without the exemption and the actual revenue collected.
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