SPRINGFIELD – State Senator Dave Koehler is spearheading an initiative to incentivize landlords to improve properties and address urban decay in the greater Peoria area, giving residents improved housing opportunities throughout the community.

“Peoria has seen a rapid decline in population recently, leading to vacant properties and businesses closing their doors,” said Koehler (D-Peoria). “In order to keep our families here, we need to invest in our neighborhoods.”

Under current law, only newly built single family homes and duplexes qualify for a tax break. Senate Bill 2936 would allow remodeled homes and duplexes in areas of urban decay to qualify for this tax break, giving landlords an incentive to upgrade properties in order to revitalize neighborhoods.

“This bill gives our community the tools to bolster our economy, provide adequate housing and present new opportunities for our residents,” said Koehler. “I am proud to call Peoria my home, and I want everyone in our community to feel the same way I do about our city.”

Senate Bill 2936 passed the Senate Revenue Committee on Wednesday and heads to the Senate floor for further discussion.