Springfield, IL – State Representative Dan Ugaste filed legislation today designed to help Illinois compete for transformative private investment while advancing meaningful property tax reforms that benefit homeowners and businesses across the state. The legislation has been filed as House Bill 5802 (HB 5802).
While the legislation was prompted by the ongoing discussion surrounding a new Chicago Bears stadium, Rep. Ugaste said the debate caused the public to begin discussion of a much larger issue: Illinois’ property tax system is broken, property taxes are too high, and they need to be fixed now.
“The Bears stadium discussion highlighted a problem that extends far beyond one project,” said Rep. Ugaste. “Illinois has some of the highest property taxes in America. Not only do those taxes make it harder to attract major investments, they also make life more expensive for every homeowner and make it difficult for our businesses to compete. This legislation addresses all these challenges.”
The proposal modifies the prior Megaprojects/Payment In Lieu of Taxes (PILOT) framework to strengthen taxpayer protections, improve government transparency and accountability, and provide property tax reform for the rest of the state.
The two statewide property tax reforms included that will benefit every Illinois property owner—not just communities hosting a megaproject are:
- All property tax referendum questions would appear only on the November General Election ballot, ensuring the greatest possible voter participation.
- The practice of “back-door” bond rollovers would end, meaning there would be no more rolling over of bonds once they are paid. The local taxpaying body would instead have to go back to the public with a referendum if they wanted to again bond for more funds.
“The Bears helped expose a flaw in our system, but this legislation is about much more than football,” Ugaste said. “Illinois should be able to compete for major employers, corporate headquarters, advanced manufacturing, entertainment venues, research campuses, and other transformational investments without asking taxpayers to write a blank check. At the same time, we should be giving taxpayers property tax reform to help lower taxes.”
“While we need to create more economic development, we need to help and protect taxpayers,” Ugaste said. “This legislation does both. It creates a responsible framework for attracting world-class investment while strengthening local control, improving transparency, and advancing property tax reforms that benefit families and businesses throughout Illinois.”
“The Bears may have started this conversation, but the reforms in this bill are just the start of more reforms needed so Illinois can compete for other investments and give taxpayers across the state the property tax relief they need to make life more affordable.”
The legislation now awaits consideration in the Illinois General Assembly.
Rep. Dan Ugaste serves Illinois House District 65, which includes parts of Kane and DuPage counties. For more information, contact Rep. Ugaste’s office at 630-797-5530 or visit his website at repugaste.com.
