SPRINGFIELD – In order to address urban decay in the greater Peoria area, State Senator Dave Koehler passed Senate Bill 2936 to revitalize neighborhoods throughout the community.
“This legislation would give every resident the ability to feel proud of their community,” said Koehler (D-Peoria). “We need to lay the groundwork for much-needed urban development and revitalization efforts across the greater Peoria area.”
Under current law, only newly built single family homes and duplexes qualify for a tax break. Senate Bill 2936 would extend this tax break to remodeled homes and duplexes in areas of urban decay, giving landlords an incentive to upgrade properties in order to revitalize neighborhoods.
“This honors our commitment to promoting equitable access to quality housing options, ensuring that all residents have the opportunity to live in safe and well-maintained homes,” said Koehler. “This measure is a testament to the strength and resilience of our community. Together, we're taking proactive steps to shape a better tomorrow for all residents.”
Senate Bill 2936 passed the Senate on Tuesday and heads to the House for further discussion.