(Section scheduled to be repealed on December 31, 2025)

250 words·~1 min read·/il/chapter-20/act-4126/31-5

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Sec. 25. Duties. The Community Land Trust Task Force shall:

(1)collect data regarding the current use of community land trusts in Illinois and

opportunities for expansion statewide, including the number of properties that could be acquired by a land trust through the property tax sale system;

(2)study the use of community land trusts as a tool to create permanently affordable

housing, including as an alternative to property tax sales;

(3)analyze centralized models that support the use of community land trusts to create

and maintain affordable housing used in other states and countries worldwide;

(4)create a cost-benefit analysis describing any savings to the State if a community

land trust model was pursued, including when compared to current affordable rental housing programs and savings across other sectors;

(5)outline financing and lending opportunities for community land trusts to make

homeownership attainable to historically marginalized communities;

(6)examine the impact substantial investments in community land trusts would have on

closing the racial wealth gap in Illinois;

(7)examine any different considerations in the use of community land trusts in

gentrifying and disinvested communities;

(8)examine incentive packages to encourage current property owners to sell their homes

to a community land trust;

(9)explore complementary uses of community land trusts and housing cooperatives; and

(10)prepare a final report making specific recommendations of legislative and budgetary

action that supports the mission of community land trusts to foster affordable housing and homeownership.