Illinois governor signs Cook County Treasurer Maria Pappas property tax foreclosure equity law
CHICAGO, July 10. Legislation championed by Cook County Treasurer Maria Pappas to shield Illinois homeowners from losing their equity through property tax foreclosure was signed into law by Gov. JB Pritzker on Thursday. Officials described the measure as the most significant overhaul of Illinois property tax law the state has enacted.
Key takeaways
- Illinois Gov. JB Pritzker signed legislation on July 10, 2026, to shield homeowners from losing their equity through property tax foreclosure.
- Cook County Treasurer Maria Pappas championed and drove the bill, and was credited as the primary force behind the reform.
- Officials described the measure as the most significant overhaul of Illinois property tax law the state has enacted.
- The law changes what happens to homeowner equity during the property tax foreclosure process, closing an exposure that existed under prior Illinois law.
- The state announced the signing the same day it occurred.
CHICAGO, July 10. Legislation championed by Cook County Treasurer Maria Pappas to shield Illinois homeowners from losing their equity through property tax foreclosure was signed into law by Gov. JB Pritzker on Thursday. Officials described the measure as the most significant overhaul of Illinois property tax law the state has enacted.
Pappas and the legislation
Pappas, who serves as Cook County Treasurer, drove the bill and secured Pritzker's signature July 10, 2026, according to the release. The law addresses a specific risk in the tax enforcement process: accumulated home equity being lost when a property moves through foreclosure over unpaid taxes.
The announcement credited Pappas as the primary force behind the reform. The release described the measure as the most significant overhaul of Illinois property tax law, without specifying the particular provisions established under the new statute.
Effect on Illinois homeowners
Officials said the law changes what happens to homeowner equity during the property tax foreclosure process. Prior to the signing, that equity was at risk under existing Illinois law, the state said. Pritzker's signature on July 10 closed that exposure.
The state announced the signing the same day it occurred, with Pappas named as the driving force behind the reform and Pritzker's signature as its completion.
Note: The source summary is a truncated press release. This article reports every fact the release provided. No figures, provisions, or timelines appear in the source; none are stated here.