Illinois HB 5777: IDHA-COMMUNITY LAND TRUST

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 Full Text of HB5777

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
HB5777

Introduced , by Rep. Will Guzzardi 

SYNOPSIS AS INTRODUCED:

20 ILCS 3805/32.5 new

35 ILCS 200/15-77 new

310 ILCS 130/15

 Amends the Illinois Housing Development Act. Provides that the Illinois Housing Development Authority shall ensure that program staff have expertise in the community land trust model and shall implement procedures that remove barriers to the timely and effective execution of approved community land trust projects. Amends the Property Tax Code. Provides that property that is owned by a non-profit community land trust, as defined in the Community Land Trust Home Ownership Act, and that is used exclusively for the creation and maintenance of permanently affordable owner occupied single-family or multifamily residences is exempt beginning with the taxable year in which the property is acquired by the community land trust and continuing through the taxable year in which the property is sold to a homeowner. Effective immediately.

LRB104 21355 HLH 36255 b

A BILL FOR

HB5777LRB104 21355 HLH 36255 b

1 AN ACT concerning State government.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Illinois Housing Development Act is amended 

5by adding Section 32.5 as follows:

6 (20 ILCS 3805/32.5 new)

7 Sec. 32.5. Community land trust program support. The 

8Authority shall ensure that program staff have expertise in 

9the community land trust model and shall implement procedures 

10that remove barriers to the timely and effective execution of 

11approved community land trust projects.

12 Section 10. The Property Tax Code is amended by adding 

13Section 15-77 as follows:

14 (35 ILCS 200/15