July 29, 2021 – Governor J.B. Pritzker is signing what he calls landmark legislation to increase affordable housing opportunities for Illinois residents.
The new laws direct 75 million dollars in COVID relief money towards building and rehabbing housing in areas of the state hit hardest by the pandemic says the Governor.
“That’s funding for 3,500 new rental units and thousands of families whose lives will be changed for the better as a result of the work of the General Assembly,” said Pritzker.
Additionally, the state’s affordable housing tax credit will be extended through 2026 and two new property tax incentives aim to encourage building owners to invest in their properties and keep rent reasonable. Another provision expands access to the low-income home energy assistance program to undocumented residents and prioritizes families with young children.
