Sen. Syverson files property tax credit legislation, seeks to provide relief to business community

In recent days since the tragic death of George Floyd in Minneapolis, the country has erupted in public outrage and protests. The greatness of our country is our ability to allow its citizens the right to have their voices heard and the right to protest. However, amid the peaceful public protests, bad actors have tried to capitalize on the tragedy and many in the business community of Illinois have been severely impacted, said State Sen. Dave Syverson (R-Rockford).

“In the wake of this incident, we have seen groups taking to the streets, looting, disrupting and damaging businesses in Illinois and across the nation,” said Sen. Syverson. “Some businesses were looted, others vandalized, some were forced to temporarily close their doors, and others who stayed open were required to hire private security. There’s no question, a number of our businesses have suffered financially because of the illegal actions of some of these groups.”

Recognizing the financial impact on the business community, Sen. Syverson is filing legislation that would provide for a property tax credit to offset a portion of the losses for any business that has been financially impacted by rioting, looting, or protesting.

“Our business community has endured so much in the last 90 days due to the COVID-19 health pandemic. Sadly, as businesses were just beginning to reopen, they were hit yet again financially for reasons out of their control,” said Sen. Syverson. “This tax break is a small way to provide some partial relief to businesses that were, at no fault of their own, negatively affected by the actions of people breaking the law.”

Sen. Syverson also notes that the need to provide financial assistance is especially critical for the businesses situated in municipalities that made the choice to not enforce the laws to protect private property or in the areas that could not provide adequate protection for citizens and property owners.

“The first and most important role of any municipality is the protection of its citizens and their property,” Sen. Syverson argues. “Businesses should not have to pay the sole price for their government’s inaction or inability to protect them.”

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