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All tagged 2022 Laws
In the real estate world, few stories have been quite as big as the SECURE Notarization Act with the U.S. Senate’s approval pending shortly.
Illinois lawmakers launched their latest initiative towards combatting racial bias with the brand-new Real Estate Valuation Task Force. Lawmakers designed this task force to battle discriminate practices in property appraisals.
On Friday, May 20th, Governor Pritzker signed Senate Bill 1975 into law, instituting Illinois property tax relief. Specifically, the new law acts as a form of property tax relief for senior citizens, veterans, and people with disabilities. This helps to ease the burden from one of the highest property taxes in the nation.
With the start of the new year, Illinois legislators passed numerous 2022 real estate laws. Some of the major new additions to the state, include the Notary Public Act, Real Property Transfer on Death Instrument Act, and the Illinois Human Rights Act.
In 2021, Illinois activated several new laws for the real estate industry, including the Condominium Property Act. While Illinois did not make any changes to the law in 2020, this latest addition represents the sole change for 2021.
Along with a string of other new laws and amendments, the Illinois Human Rights Act experienced an update of its own.
On July 9th, 2021, Illinois Governor JB Pritzker signed the Real Property Transfer on Death Instrument Act. In a slew of major, new real estate laws coming into fruition the latest Act took effect on January 1st, 2022.
