Illinois HB3269 creates a fee for landlords and a home purchase assistance program for low-income tenants.
Illinois HB3269, the Housing Equity, Affordability, and Development Act, establishes a fee for landlords with more than five units. The Department of Revenue will collect 5% of the difference between a landlord's monthly rental income and $1,200 per unit, unless the rental income is below $1,200. This fee will fund the Housing Equity, Affordability, and Development Fund. Additionally, the Illinois Housing Development Authority will create a program to assist low-income households in purchasing homes.
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