Illinois lawmakers revise megaproject bill over negligible property tax relief
Updated
Updated · Chicago Sun-Times · May 4
Illinois lawmakers revise megaproject bill over negligible property tax relief
5 articles · Updated · Chicago Sun-Times · May 4
Governor JB Pritzker's office said a typical homeowner would get just $1.29 from a hypothetical $20 million PILOT payment, as senators work before a May 31 deadline.
State Senator Bill Cunningham said the Senate is seeking a more significant relief formula while preserving support for legislation meant to help keep the Chicago Bears in Illinois.
The bill also includes incentives for other large developments, including underused railyards, but faces resistance from Chicago Democrats and progressives wary of aiding big companies and sports franchises.
What would happen to Chicago's economy and civic identity if both the Bears and White Sox left despite public incentives?
Could the proposed legislation actually raise property taxes for homeowners instead of providing the promised relief?
If economists say stadium subsidies rarely boost local economies, why do cities keep investing in them?