Prevent Homeowner displacement in cook county
Thank to all organizations who endorsed this legislation!
The inclusion of owner-occupied homes in the Cook County annual tax sale puts people, especially seniors and those with disabilities, at risk of losing their home solely for delinquent property taxes purchased by investors motivated by profit, without regard for the long-term impact on families and communities. Black and Brown homeowners and communities are especially negatively impacted, as the current system makes it harder for households to transfer wealth, contributing to the racial wealth and homeownership gaps.
SB 74 as amended, create a State Task Force to study and make recommendations for the implementation of a payment plan option to divert delinquent owner-occupied properties from the annual tax sale. The group will produce an implementation report in late 2023.
Thanks to our chief sponsors, Representative Debbie Meyers-Martin and Senator Robert Peters