CHICAGO (AP) - Illinois has a new law protecting renters if their landlord's property goes into foreclosure.
Gov. Pat Quinn signed the law Wednesday that says those who buy multifamily properties out of foreclosure to either honor existing tenant leases or give the renters 90 days to move.
It takes effect in three months.
The original bill was sponsored by state Sen. Jacqueline Collins and state Rep. Kelly Cassidy, both Chicago Democrats. They say that about 40 percent of families affected by foreclosure are renters who might not know their landlord failed to make mortgage payments.
Advocates of the bill say it will help avoid pushing many tenants into homelessness by giving them time to find a safe place to live. They also say it will prevent properties from standing vacant.
JEFFERSON CITY, Mo. (AP) - The Missouri House Budget Committee has advanced legislation to abolish a tax credit of up to $750 a year for low-income seniors and disabled people who live in rental housing.
More than 104,000 renters were awarded the credit last year. The proposal would redirect $57 million saved by trimming the tax credit to state health, mental health and social services that may benefit seniors and the disabled.
The budget panel accepted public testimony and approved the legislation Tuesday. Generally, House Republicans were supportive and Democrats were critical.
The measure was factored into the proposed budget approved by the House, and it has been backed by Gov. Jay Nixon.
The Senate passed the bill last month.
Several disabled renters testified Tuesday that the tax break of up to $750 annually allows them to pay medical bills, utilities and clothing. They pleaded with the Senate Appropriations Committee to keep the tax break.
But the committee voted to advance a bill that would do away with the tax credit and redirect the $57 million of savings to programs that serve seniors and the disabled. The plan is backed by Gov. Jay Nixon.
A commission Nixon appointed recommended ending the tax break for renters while continuing it for homeowners. The credit is intended offset property taxes.