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The Restock the Block Act imposes fees on entities that own multiple residential properties to help fund affordable housing projects in Illinois. It restricts these entities from buying properties unless they have been on the market for at least 90 days and requires them to disclose their offers to sellers and the Department of Human Services. The bill aims to promote fair housing practices and assist those in need of affordable housing.

Supporters of the Restock the Block Act argue that it will help combat housing inequality by ensuring that large property owners contribute to the affordable housing fund. They believe the restrictions on property purchases will create a more equitable housing market, making homes more accessible for families and individuals in need.

Critics of the Restock the Block Act contend that the new fees and restrictions may discourage investment in residential properties, potentially leading to a decrease in available rental units. They argue that the bill could create unnecessary bureaucratic hurdles for property owners and may ultimately harm the housing market rather than help it.