The Nov. 1 issue of the State Capitol Report provides a brief summary of Chicago Mayor Lori Lightfoot’s idea for a graduated property transfer tax in Chicago and why Illinois REALTORS® would strongly oppose the concept, especially if it were put into a bill. Read about this issue and more from the first week of the fall veto session in the State Capitol Report.

The House also approved three bills that will be sent to the Senate for consideration later this month:

• an amendment to the Cook County Senior Citizen Homestead Exemption (HB 961),
• extension of the life of a Tax Increment Financing (TIF) district in the city of Savannah (SB 1042) and
• the extension of the Community Association Manager Licensing and Disciplinary Act an additional two years to January 2022 (HB 1268).

The second week of the fall veto session is scheduled to start Nov. 12. Read the State Capitol Report.