SPRINGFIELD, IL — Last night, the Illinois House of Representatives passed the reckless Megaproject bill, enticing wealthy developers to Illinois on taxpayers’ dime. The bill passed with ten Republicans joining Democrats to put ultra-wealthy developers ahead of taxpayers.
In its current form, the HB 910 mega-project bill allows developers to pay a small “special payment” in exchange for lucrative 45-year property tax breaks and allows local governments to shift every dollar of lost tax revenue onto unsuspecting taxpayers.
In the case of the Arlington Heights megaproject proposal, the property tax break for the $5B development could reach $330 million per year. For the proposed $20B One Central Development in Chicago, the property tax break could be $800 million per year. All of which can be shifted to other taxpayers in surrounding communities.
The bill creates the potential for hundreds or thousands of megaprojects across Illinois. There is no limit, and there are no meaningful protections for property taxpayers.
The ten Republicans who failed to put Illinois taxpayers ahead of political insiders are:
- John Cabello
- Michael Coffey
- Amy Elik
- Bradley Fritts
- Martin McLaughlin
- Jennifer Sanalitro
- Kevin Schmidt
- Brandun Schweizer
- Patrick Sheehan
- Brad Stephens
AFP-Illinois will launch a significant accountability campaign, including digital and grassroots door-knocking, targeting the Republican members who supported this misguided legislation.
AFP-Illinois State Director Jason Heffley issued the following statement:
“Illinois already has the highest property taxes in the nation, and last night, ten Republicans in Springfield voted to prioritize wealthy developers over taxpayers and politics over principles.
“AFP-Illinois is extremely disappointed that this dangerous bill moved out of the House with the help of ten Republicans. Votes matter, and AFP will deploy a digital and door-knocking campaign to educate Illinois voters on how their lawmaker chose to side with wealthy developers and special interests over property taxpayers.”
Additionally, AFP-Illinois Deputy State Director Brian Costin testified against the dangerous legislation yesterday, challenging its constitutionality and warning homeowners about the unfair property tax hikes.