Bill > SB3978

This bill, titled the Circuit Breaker Property Tax Relief Act, aims to provide financial assistance to eligible homeowners in Illinois who have experienced significant increases in their property tax bills. To qualify for a grant, an individual must be a resident of Illinois, already receive a homestead exemption (a property tax break for primary residences), have experienced a "property tax bill spike" (defined as a substantial year-over-year increase in property taxes, with specific percentage thresholds depending on county size, and not including increases of $500 or less), and have a household income that meets a specified income eligibility limitation, which is generally no more than four times the federal poverty level for their household size, though enrollment in certain assistance programs can also qualify them. The grant amount is capped at 50% of the claimant's property tax bill spike, and a dedicated "Circuit Breaker Property Tax Relief Fund" is established to manage these grants, with conforming changes made to the State Finance Act. The bill also outlines definitions for key terms like "claimant," "household income," and "property tax bill spike," details the application process, and specifies procedures for grant administration, payment, and penalties for fraud.

https://www.ilga.gov/Legislation/BillStatus?DocNum=3978&GAID=18&DocTypeID=SB&SessionID=114&GA=104