Housing

Creates the Corporate Ownership of Residential Property Act. Provides that, beginning January 1, 2027, a company to which the Act applies is prohibited from owning more than 500 residential properties in Illinois, including residential property held by affiliated entities or persons. Requires each company owning more than 500 residential properties to register annually with the Department of Financial and Professional Regulation. Requires each company owning more than 200 residential properties but less than 500 residential properties to provide to the Department a list of all residential properties owned, a disclosure of all affiliated entities and beneficial owners, and an affirmation of compliance with the Act. Requires the Department to enforce the Act. Grants the Department rulemaking powers. Limits home rule powers. Makes other changes. Effective immediately.

Amends the Illinois Housing Development Act and the Illinois Income Tax Act. Provides that the amount of credits awarded under the affordable housing tax donation program is limited to $41,831,227 in State fiscal year 2027 and shall increase by 10% each fiscal year thereafter (currently, $32,850,352 in State fiscal years 2022 and 2023 increased by 5% each fiscal year thereafter). Provides that the affordable housing donation income tax credit applies through the taxable year ending on December 31, 2036 (currently, December 31, 2026). Effective immediately.

Amends the Counties Code and the Illinois Municipal Code. Provides that county boards and municipalities may not issue a building permit on a residential unit if the owner of the property is in default on any mortgage.

Amends the Landlord and Tenant Act. Prohibits a real estate broker or rental agent who rents or leases residential real estate as an agent of the landowner, landlord, lessor, or sublessor from demanding or receiving any payment or fee from a tenant or prospective tenant for any services as agent for any action arising out of the leasing of a residential rental property. Prohibits a landowner, landlord, lessor, or sublessor from demanding or requiring that a tenant or prospective tenant retain, hire, or engage a real estate broker or rental agent and pay the real estate broker or agent a fee or commission as a condition to applying for or leasing a residential rental unit. Authorizes a person alleging a violation of the Act to bring a civil action against the person or entity that is alleged to have violated this Act. Authorizes a court to award to the plaintiff injunctive relief, monetary relief, attorney's fees, and costs.

Amends the Counties Code. Provides that specified counties may acquire real property for the purpose of creating or preserving affordable housing for persons making up to 150% of area median income annually. Provides that specified counties may enter into agreements to transfer real property with any unit of local government, any school district, or the State for the purpose of creating or preserving affordable housing for persons making up to 150% of the area median income annually. Provides that specified counties may enter into agreements to donate, lease below market rate, or sell below market rate, real property for the purpose of the creation or preservation of affordable housing for persons making up to 150% of area median income annually. Provides that specified counties may undertake any activity permitted by the Affordable Housing Planning and Appeal Act for the purpose of creating, developing, encouraging the development, or preservation of the development of affordable housing for persons making up to 150% of area median income annually. Provides that specified counties may select purchasers and lessors for properties held by the county, a county land bank, or county land trust. Provides that specified counties may encourage and facilitate the creation of affordable housing within the geographic boundaries of the county, including areas within municipalities, by offering financial incentives, including but not limited to grants and loans, and infrastructure improvements, including but not limited to, stormwater detention, public water and sewer improvements, and similar improvement which facilitate increasing the supply of affordable housing units shall be considered improvements for a public purpose, to developers of affordable housing units. Provides that specified counties may enter into agreements with property owners to engage in clearance and remediation activities. Provides that, as part of an agreement, or in return for an infrastructure improvement, a county may impose a restriction on the title of an affordable housing development subject to the agreement that restricts the income level of inhabitants of all or part of the development.

Appropriates $5,000,000 from the General Revenue Fund to the Department of Commerce and Economic Opportunity for a grant to Neighborhood Housing Services of Chicago for costs associated with funding equitable mortgage lending and homebuyer subsidies, foreclosure prevention services, and other support. Effective July 1, 2026.

Amends the Property Tax Code. Provides that provisions allowing a chief county assessment officer to renew the homestead exemption for persons with disabilities without an annual application apply permanently. Effective immediately.

Amends the Housing Authorities Act. Provides that, unless otherwise required by federal law or regulation, a housing authority shall not establish or implement any rules, policies, or procedures that impose time limits or work requirements as a condition of initial or continued eligibility for any rent subsidy or assistance provided to qualifying tenants of the housing authority or to qualifying individuals through any rent subsidy or other housing assistance program administered by the housing authority. Permits a housing authority to establish, implement, or encourage an applicant or recipient of a rent subsidy or assistance to participate in a voluntary employment or job training program if the program: (1) does not impact the applicant's or recipient's initial or continued eligibility for the rent subsidy or assistance; and (2) has one of the specified goals for program participants, including, but not limited to, (i) increasing personal income, (ii) homeownership, or (iii) expanding employment options. Effective immediately.

Amends the Public Utilities Act. In provisions concerning nondiscrimination, provides that the Commission is authorized to approve a low-income discount rate for residential electric and natural gas customers that applies to the entirety of a qualifying customer's bill, including, but not limited to, a qualifying customer's delivery service charges and energy supply charges. Provides that an electric or natural gas utility may fund low-income discount rates through a surcharge on customers' electric and natural gas bills. Provides that the changes to the Act apply retroactively on and after January 1, 2023. Amends the Energy Assistance Act. In provisions concerning eligibility under the Act, provides that, in setting the annual eligibility level for the use of State funds from the Supplemental Low-Income Energy Assistance Fund, the Department of Commerce and Economic Opportunity shall consider the amount of available funding and may not set a limit higher than 300% of the federal nonfarm poverty level. In provisions concerning the Supplemental Low-Income Energy Assistance Fund, provides that the yearly administrative expenses of the Fund may not exceed 15% (rather than 13%) of the amount collected during that year, except when unspent funds from the Fund are reallocated from a previous year. Provides that any unspent balance of the 15% administrative allowance may be utilized for administrative expenses in the year they are reallocated. Provides that, of the 15% administrative allowance, no less than 9% (rather than 8%) shall be provided to Local Administrative Agencies for administrative expenses. Provides that, beginning January 1, 2027, the Base Energy Assistance Charge shall be $0.80 per month for each utility that is required by the Illinois Commerce Commission to implement a low-income discount rate and shall be $0.40 per month for each utility that is not required to implement a low-income discount rate and that contributes to the Supplemental Low-Income Energy Assistance Fund. Makes other changes.

Appropriates $5,000,000 from the General Revenue Fund to the Department of Commerce and Economic Opportunity for a grant to Neighborhood Housing Services of Chicago for costs associated with funding equitable mortgage lending and homebuyer subsidies, foreclosure prevention services, and other support. Effective July 1, 2026.