IL SB3573 | 2023-2024 | 103rd General Assembly

Illinois Senate Bill 3573

Status

Spectrum: Partisan Bill (Republican 5-0)
Status: Introduced on February 9 2024 - 25% progression
Action: 2024-05-03 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Property Tax Code. Provides that, for taxable year 2024, the maximum income limitation for the Low-Income Senior Citizens Assessment Freeze Homestead Exemption is $75,000. Provides that, for taxable year 2025 and subsequent taxable years, the maximum income limitation shall be adjusted by the percentage increase, if any, in the Consumer Price Index. Effective immediately.

Title

PROP TX-SENIOR FREEZE

History

Date	Chamber	Action
2024-05-03	Senate	Rule 3-9(a) / Re-referred to Assignments
2024-04-05	Senate	Rule 2-10 Committee Deadline Established As May 3, 2024
2024-03-20	Senate	Added as Co-Sponsor Sen. Dave Syverson
2024-03-18	Senate	Added as Co-Sponsor Sen. Andrew S. Chesney
2024-03-15	Senate	Rule 2-10 Committee Deadline Established As April 5, 2024
2024-02-20	Senate	Added as Chief Co-Sponsor Sen. Dan McConchie
2024-02-20	Senate	Assigned to Revenue
2024-02-16	Senate	Added as Chief Co-Sponsor Sen. Seth Lewis
2024-02-09	Senate	Referred to Assignments
2024-02-09	Senate	First Reading
2024-02-09	Senate	Filed with Secretary by Sen. Erica Harriss

Code Citations

Chapter	Article	Section	Citation Type	Statute Text
35	200	15-172	Amended Code	Citation Text

Illinois State Sources

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3573&GAID=17&DocTypeID=SB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/SB/10300SB3573.htm