Illinois state Sen. Dan McConchie (R-Hawthorn Woods) wants to nail down more specifics in a bill that would allow property tax incentives for newly constructed or renovated rental properties if they include affordable housing units.
McConchie voiced his concerns with Senate Bill 2259 during a Senate Executive Subcommittee on Special Issues hearing on July 18. The bill, sponsored by Senate President John J. Cullerton (D-Chicago), will be effective immediately if passed. It was introduced in May.
"This should target those who don't qualify for aid but are struggling to find affordable housing," McConchie said. "[Another] concern I have regarding tax credits is how it will affect property taxes. In creating another tax credit, we end up shifting that burden to others. I want to make sure we’re limiting that tax transference and getting to the root of the problem. You need the wealthier payers to subsidize this project, right? A project would still be there, it just wouldn't be affordable housing."
Illinois state Sen. Dan McConchie (R-Hawthorn Woods)
McConchie said that, being in a wheelchair, he realizes the difficulties disabled people face when seeking affordable housing. He questioned why there weren't requirements to create accessible living spaces for disabled people.
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