'A new way to own property:' Community land trust taskforce passes IL House

SPRINGFIELD, Ill. (WAND) — A bill to continue a community land taskforce passed the Illinois House on Wednesday.

A community land trust buys land, usually single family homes, under the condition they will not flip the house. While owning the property, they will give the house to a low income family at a low price, but again they cannot flip the house.

This taskforce would try to see if community land trusts should be expanded in the state of Illinois. State Rep. Lilian Jiménez (D-Chicago) said this housing method could stop the housing crisis.

"Key goals of the taskforce are to expand access to home ownership programs and to support long term affordability and stability through the exploration of the community land trust model," Jiménez said.

The taskforce once signed into law will sunset in 14 months. After the sunset the commission team will come up with legislation that could expand community land trusts.

This bill passed out of the House on a partisan 71-37 vote. It will now head back to the Senate for further debate.