SPRINGFIELD — The House Committee on Housing on advanced a bill Wednesday that would allow local municipalities to implement measures regarding rent control.House Bill 116, introduced by Rep. Will Guzzardi, D-Chicago, would repeal the state’s Rent Control Preemption Act of 1997 and enable local municipalities to impose caps on rent prices.Guzzardi said the rent control repeal would aim to give more “flexibility” to local municipalities in order to make their own decisions regarding rental costs.“This law that’s on the …