IVCA Works Against PE Housing Ban

A bill to expressly target Private Equity in residential housing was sent to the Senate Executive Committee on Monday and was heard in committee Tuesday. SB 331 with amendment 1 places a fee on entities purchasing more than 10 residential homes, with the proceeds directed to a fund to help create affordable housing. The bill passed out of Senate Executive Committee and is now poised to be heard in the Senate floor. IVCA is working with the Illinois Realtors among others to oppose the bill which while well-intentioned is not going to result in an increased supply of affordable housing. 

View the status of the bill at ILGA.gov