SHORT-TERM RENTAL TAX ACT

Summary

The bill imposes a 4% tax on the rental price paid by renters of short‑term rentals in Illinois, effective January 1 2027. Collected taxes are deposited into a new Community Land Trust Fund, which the Illinois Housing Development Authority will use for community‑land‑trust development and support. The measure aims to generate funding for affordable‑housing initiatives while adding a new tax on short‑term rental stays.

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

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