IL HB4924 | 2017-2018 | 100th General Assembly

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 14 2018 - 25% progression
Action: 2018-04-13 - House Committee Amendment No. 1 Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Property Tax Code. Creates the Natural Disaster Home Repair Assistance Homestead Exemption. Creates a homestead exemption for homestead property that meets the following criteria: (1) the property sustains damage as a result a natural disaster occurring in assessment year 2017 or any assessment year thereafter; and (2) the homeowner incurs costs to repair that damage during the assessment year for which the exemption is sought. Provides that the exemption is a reduction in the equalized assessed value of the property in an amount equal to the costs incurred by the homeowner, but not to exceed $5,000 per year. Effective immediately.

Tracking Information

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Title

PROP TX-HOMESTEAD REPAIR

Sponsors


History

DateChamberAction
2018-04-13HouseHouse Committee Amendment No. 1 Rule 19(a) / Re-referred to Rules Committee
2018-04-13HouseRule 19(a) / Re-referred to Rules Committee
2018-04-09HouseHouse Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
2018-04-02HouseHouse Committee Amendment No. 1 Referred to Rules Committee
2018-04-02HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Jerry Lee Long
2018-03-08HouseTo Property Tax Subcommittee
2018-02-27HouseAssigned to Revenue & Finance Committee
2018-02-14HouseReferred to Rules Committee
2018-02-14HouseFirst Reading
2018-02-14HouseFiled with the Clerk by Rep. Jerry Lee Long

Code Citations

ChapterArticleSectionCitation TypeStatute Text
3520015-173Amended CodeCitation Text
3520015-173.5New CodeSee Bill Text

Illinois State Sources


Bill Comments

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