Illinois Bill Would Create Tax Credit for Affordable Housing

Illinois Bill Would Create Tax Credit for Affordable Housing

SPRINGFIELD – A bipartisan effort is underway in the Illinois House to create more affordable housing options in the state.

State Rep. Tom Demmer, R-Dixon, is sponsoring a bill alongside State Rep. Delia Ramirez, D-Chicago, that would create the Build Illinois Homes Tax Credit, modeled on the federal Low-Income Housing Tax Credit.

Demmer said he thinks it’s important to support private investment on the low end too. That means affordable and entry-level housing in communities.

Supporters estimate the legislation would spur the building of 3,500 homes or apartments every year, supporting more than 17,000 jobs.

Facebook