IL HB4291 | 2015-2016 | 99th General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on September 9 2015 - 25% progression, died in committee
Action: 2016-04-08 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on September 9 2015 - 25% progression, died in committee
Action: 2016-04-08 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Property Tax Code. Provides that, if the cumulative amount paid in property taxes by a particular taxpayer for a particular parcel of homestead property equals or exceeds the selling price of that homestead property at the time the property was sold, transferred, or conveyed to the taxpayer, then that property is exempt from taxation until such time as the property is sold, transferred, or conveyed to another taxpayer. Effective immediately.
Title
PROP TX-SELLING PRICE EXEMPT
Sponsors
| Rep. Jack Franks [D] |
History
| Date | Chamber | Action |
|---|---|---|
| 2016-04-08 | House | Rule 19(a) / Re-referred to Rules Committee |
| 2016-02-24 | House | To Property Tax Subcommittee |
| 2016-02-04 | House | Assigned to Revenue & Finance Committee |
| 2015-09-18 | House | Referred to Rules Committee |
| 2015-09-18 | House | First Reading |
| 2015-09-09 | House | Filed with the Clerk by Rep. Jack D. Franks |
Code Citations
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4291&GAID=13&DocTypeID=HB&SessionID=88&GA=99 |
| Text | https://www.ilga.gov/legislation/99/HB/09900HB4291.htm |
