You likely see vacant and abandoned property in your community, and Illinois state lawmakers know those buildings lead to higher property taxes for neighbors.

A House Democrat from Chicago is working with community developers, affordable housing advocates, and tax policy experts to help builders quickly acquire abandoned properties for redevelopment. Rep. Nick Smith told the House Revenue Committee Thursday that his bill can increase home ownership, build wealth in low-income communities, and make the tax sale system work for residents instead of private investors.

According to our news partners at WAND TV, his plan would allow local governments to intervene after one failed delinquent tax sale to save vacant properties before they deteriorate or require demolition. House Bill 3040 could also eliminate taxpayer-funded payouts to private tax buyers by closing the state’s sale in error loophole.

Many properties sit vacant for five or six years under the current system. However, some properties remain abandoned for 10 years before they need to be demolished using taxpayer dollars.

Smith stressed that House Bill 3040 would prevent private tax buyers from profiting off of letting these homes deteriorate. The legislation is assigned to the House Rules Committee. Although, Smith hopes the bill can move over the final months of session.