Illinois HB 2757: LIQUOR-TECH

Status: Referred to Rules Committee (as of 2023-02-16)

State: Illinois · Session: 103rd · Bill: HB 2757

Sponsors: Robert "Bob" Rita

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 Full Text of HB2757

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HB2757 EngrossedLRB104 09433 RTM 19493 b

1 AN ACT concerning local government.

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

3represented in the General Assembly:

4 Section 1. Short title. This Act may be cited as the 

5Chicago Downtown Revitalization Task Force Act.

6 Section 5. Findings. The General Assembly finds:

7 (1) Downtown Chicago, encompassing the City of 

8 Chicago's Central Business District and its associated 

9 neighborhoods, is one of the most critical economic 

10 engines of the State of Illinois, contributing hundreds of 

11 millions of dollars in State and local tax revenue and 

12 billions of dollars of economic activity to the State's 

13 economy.

14 (2) Like large urban cores throughout the country, 

15 downtown Chicago faces critical challenges coming out of 

16 the COVID-19 pandemic as people continue to make different 

17 decisions about how and where they live, work, and play.

18 (3) These decisions create cascading effects that 

19 manifest broad implications for public policy decisions. 

20 As downtown commercial office occupancy rates hover below 

21 50% of pre-pandemic levels and the overall vacancy rate is 

22 at a historic high of nearly 20%, with more than 8,000,000 

23 additional square feet of sublease availability, the 

HB2757 Engrossed- 2 -LRB104 09433 RTM 19493 b

1 resulting reductions in workers and foot traffic put 

2 downward pressure on office rents, lower commercial office 

3 building values, jeopardize the viability of restaurant 

4 and retail establishments, and shift a larger property tax 

5 burden onto homeowners across the city.

6 (

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