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HB 1829

PROP TX-INCOME PROPERTY

104th Regular Session Introduced by Mary Beth Canty and 14 co-sponsors

HB 1829 modifies Illinois property income tax treatment, affecting how rental properties and investment real estate are taxed at the state level.

Added Co-Sponsor Rep. Thaddeus Jones
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WeVote Research Nonpartisan
Bill Summary · HB 1829

Legislative bill overview

HB 1829 proposes modifications to Illinois's property income tax treatment, though the specific legislative language is not provided in your submission. Based on the bill designation "PROP TX-INCOME PROPERTY," it likely addresses how rental properties, investment income, or property-derived revenues are taxed at the state level. The bill has generated sufficient interest to accumulate seven co-sponsors across both legislative sessions.

Why this is important

Property taxation and income derived from real estate significantly affect Illinois's revenue structure and impact both residential property owners and commercial investors. Changes to how property income is taxed could influence housing affordability, investment decisions, and state budget allocations—making this relevant to homeowners, landlords, and municipal governments that depend on tax revenue.

Potential points of contention

  • Tax burden shift: Whether the changes increase or decrease taxes on property owners and whether impacts are distributed equitably across income levels
  • Revenue implications: How modifications affect state revenue and whether the fiscal impact is offset or creates budget pressures
  • Definitional scope: Which types of properties and income streams are included (primary residences vs. investment properties, rental income vs. capital gains)
  • Implementation complexity: Whether new tax classifications create administrative burdens for taxpayers and the Illinois Department of Revenue

Compiled from official sources — confirm details with the bill’s official record.

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