SPRINGFIELD, Ill. – State Rep. Anthony DeLuca, D-Chicago Heights, led passage Wednesday of a plan to create jobs, lower property taxes and incentivize local commercial and industrial redevelopment in the south suburbs with the Southland Reactivation Act.
“Today we took an important step to encourage businesses to move into our area and create jobs,” DeLuca said. “The Southland Reactivation Act will attract investment in underutilized properties, expand the local tax base and drive down property tax costs on homeowners.”
DeLuca’s Senate Bill 3189 creates the Southland Reactivation Act, which institutes a special designation for underutilized property in the south suburbs of Chicagoland in Bloom, Bremen, Calumet, Rich, Thornton and Worth Townships. Identified commercial and industrial properties that meet qualifying criteria would be assessed at 50% of the last known equalized assessed value. For the first year a property is certified as a southland reactivation property, the aggregate tax bill liability for the property cannot exceed $100,000. Discounts on the liability would decrease gradually, but continue for a total of 12 years.
“This measure is a great opportunity to grow and develop our community,” DeLuca said. “I was encouraged by the strong bipartisan support this measure received, and I encourage the Senate to act quickly to pass this so we can get to work in attracting new investment right away.”
Senate Bill 3189 now moves to the Senate for concurrence.
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