SPRINGFIELD – To study a potential payment plan program for owner-occupants to repay delinquent property taxes, State Senator Robert Peters passed a measure that would create the Property Tax Payment Plan Task Force.

“Homeownership is a symbol of social mobility in addition to being a source of equity,” said Peters (D-Chicago). “When greedy investors take advantage of homeowners who are behind on property tax payments, they aren’t just damaging the homeowner and their family, but also the generations after them.”

Senate Bill 74 creates an installment payment plan for delinquent property taxes to allow taxpayers to catch up on their back taxes and prevents a tax sale of their homes if they remain in good standing under the program.

“Everyone needs a helping hand from time to time,” said Peters. “This measure is a timely tool to keep homeowners in the homes they worked hard for.”

Senate Bill 74 passed the Senate Friday and will now head to the House for further consideration.