IL HB5183 | 2023-2024 | 103rd General Assembly

Status

Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 7 2025 - 100% progression
Action: 2025-01-07 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that, if a taxing district grants a property tax abatement for a defined period of time measured in levy years, then, for the first levy year after the expiration of the abatement, the district's aggregate extension base shall be the taxing district's last preceding aggregate extension, subject to certain adjustments, plus the amount of the expired abatement for the previous levy year. Effective immediately.

Tracking Information

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Title

PROP TX-ABATEMENTS

Sponsors


History

DateChamberAction
2025-01-07HouseSession Sine Die
2024-04-05HouseRule 19(a) / Re-referred to Rules Committee
2024-03-08HouseTo Revenue - Property Tax Subcommittee
2024-02-28HouseAssigned to Revenue & Finance Committee
2024-02-09HouseReferred to Rules Committee
2024-02-09HouseFirst Reading
2024-02-08HouseFiled with the Clerk by Rep. Christopher "C.D." Davidsmeyer

Code Citations

ChapterArticleSectionCitation TypeStatute Text
3520018-185Amended CodeCitation Text

Illinois State Sources


Bill Comments

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