summary
Introduced
02/09/2017
02/09/2017
In Committee
03/31/2017
03/31/2017
Crossed Over
Passed
Dead
01/08/2019
01/08/2019
Introduced Session
100th General Assembly
Bill Summary
Amends the Property Tax Code. Provides that the income limitation for the Senior Citizens Assessment Freeze Homestead Exemption is: (1) $55,000 in taxable years 2008 through 2016; (2) $60,000 in taxable years 2017 through 2020; and (3) $65,000 in taxable year 2021 and thereafter (currently, $55,000 for taxable year 2008 and thereafter). Effective immediately.
AI Summary
This bill amends the Property Tax Code to increase the income limitation for the Senior Citizens Assessment Freeze Homestead Exemption. Specifically, it raises the income limit from $55,000 to $60,000 for taxable years 2017 through 2020, and to $65,000 for taxable year 2021 and thereafter. This exemption allows eligible senior citizens to have their property's equalized assessed value frozen at a certain base amount, reducing their property taxes. The bill takes effect immediately upon becoming law.
Committee Categories
Budget and Finance
Sponsors (23)
Tony McCombie (R)*,
Steven Andersson (R),
Jaime Andrade (D),
Dan Brady (R),
Peter Breen (R),
Fred Crespo (D),
John D'Amico (D),
Tom Demmer (R),
James Durkin (R),
Mike Halpin (D),
Norine Hammond (R),
Frances Hurley (D),
Jeanne Ives (R),
Rob Martwick (D),
David McSweeney (R),
Thomas Morrison (R),
Lindsay Parkhurst (R),
Steve Reick (R),
Dave Severin (R),
Joe Sosnowski (R),
Dan Swanson (R),
Chris Welch (D),
Kathleen Willis (D),
Last Action
Session Sine Die (on 01/08/2019)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.ilga.gov/legislation/BillStatus.asp?DocNum=2894&GAID=14&DocTypeID=HB&SessionID=91&GA=100 |
| BillText | http://www.ilga.gov/legislation/100/HB/10000HB2894.htm |
| Bill | http://www.ilga.gov/legislation/100/HB/PDF/10000HB2894.pdf |
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