CHICAGO — A new piece of legislation introduced in Springfield aims to tackle Illinois’ growing affordable housing crisis by incentivizing development across the state. The proposed Build Illinois Homes Tax Credit would offer financial incentives to developers to build affordable housing units, with a goal of creating more than 5,000 new homes over the next five years.

“All across Illinois, we’re simply not producing enough homes,” said Allison Clements, Executive Director of the Illinois Housing Council. “That’s what’s driving our affordability crisis.”

The bill targets the stark shortfall of affordable units for low-income residents. According to Bob Palmer, policy director of Housing Action Illinois, there is a shortage of nearly 290,000 affordable and available rental units for extremely low-income households in the state.

Both home prices and rent continue to reach record highs, particularly in major cities like Chicago. Without legislative action, advocates warn the crisis could deepen. “We need a fundamental shift in priorities,” Palmer said. “We must start treating housing as a basic human right.”

The proposed legislation is now under consideration by state lawmakers.

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