St. Charles, IL – Following news last week that the Chicago Bears intend to move forward with a stadium development in Indiana, State Representative Dan Ugaste (R-Geneva) said the decision could result in a major blow to the State. However, in the event the Bears remain open to staying in Illinois, Ugaste is drafting a PILOT bill that could be used to keep the Bears, protect local property taxpayers, and provide property tax relief statewide.
“Once again, Illinois is at risk of losing a major business because of a broken tax system that has driven families and businesses away for years,” said Ugaste. “The Bears are ready to invest $3 to $5 billion in a world-class stadium and entertainment district that could create jobs, drive growth, and attract major events. As state leaders, we cannot let this opportunity slip away.”
Ugaste said the Bears’ concerns are understandable: Illinois’ high property tax burden drives up costs for families and businesses. His proposal provides certainty for large developments, protects local taxpayers, and includes statewide property tax relief.
“This is not just about the Bears,” said Ugaste. “Every homeowner and every business in Illinois is struggling under the weight of excessive property taxes.”
In addition to the property tax certainty goal of Ugaste’s future bill, the proposal:
- Sets thresholds for statewide megaprojects at $500 million and $1 billion
- Protects local property taxpayers from increases in their taxes due to the project
- Allows for STAR bonds
- Provides property tax relief for all property owners in Illinois by putting all referendums on the General Election ballot and stopping any future “backdoor” bond rollovers
“We need to get this done,” Ugaste said. “Illinois can keep a historic sports franchise that means so much to the people of the state, remain competitive for major economic development projects, and also provide relief for homeowners and businesses who are carrying one of the highest property tax burdens in the nation. We do not have to choose between economic growth and taxpayer relief. We can, and should, have both.”
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.