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Summary

The legislation defines “covered entities” as large institutional investors that own or manage ten or more residential properties and levies an annual fee on each property owned beyond that threshold. Collected fees are deposited into the Illinois Affordable Housing Trust Fund, and the bill adds reporting, purchase‑listing, and penalty provisions to ensure compliance. It targets major real‑estate investors and directs new revenue toward public housing and rental assistance.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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