SPRINGFIELD (AP) – Illinois lawmakers could consider legislation that would help limit property tax increases for business owners who rebuild from last year’s tornadoes.
The Springfield bureau of Lee Enterprises newspapers reports the bill is sponsored by Rep. Chad Hays, a Catlin Republican.
He also represents Gifford, which was one of the communities hit by two dozen tornadoes that struck Illinois in November.
Hays’ proposal would create a 5-year property tax abatement on the higher tax rate for businesses that are rebuilt. It would also cap annual property tax increases after the 5-year window.