The conversation about lifting the rent control ban in Illinois and implementing laws that protect residents from displacement is starting to gain traction. Earlier in February, state lawmakers introduced a bill that would repeal the ban, create rent control boards across the state, and provide benefits to both landlords and renters.
The newest legislation, HB 2192, proposes six regional rent control boards that would be elected, according to the bill and Chicago Sun-Times. The bill isn’t a “silver bullet” to solve all of Chicago’s housing issues, the newspaper said, but it’s a start.
The regional boards would determine regulations about rent stabilization rates and set small registration fees which would fund repairs and improvements. The bill includes rent-controlled and improvement tax credits and would hold landlords accountable for pricing. It would also repeal the Rent Control Preemption Act, which banned rent control in 1997.