House Committee advances Bears stadium project bill, several legislators & advocacy group warn could lead to rise in property tax bills

An Illinois House committee has advanced a megaproject bill about a Chicago Bears stadium project, but several legislators and an advocacy group warn the bill could lead to a meteoric rise in property tax bills.

State Rep. Kam Buckner, D-Chicago, said House Bill 910 authorizes a megaproject assessment freeze and allows municipalities to negotiate incentive agreements with megaproject developers.

“So instead of letting a megaproject blow up a tax base in unpredictable ways or letting negotiations happen in the shadows, this bill creates a clean structure,” Buckner said.

Brian Costin of Americans for Prosperity Illinois said it’s a property tax shift bill.

“It would shift liability from megaproject developers directly onto homeowners, small businesses, creating a mechanism that could double or triple the effective property tax rates over the next few decades,” Costin said.

Several lawmakers said the megaproject bill could also apply to battery farms and data centers.

Story from Illinois Radio Network