IL HB5566 | 2017-2018 | 100th General Assembly

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 16 2018 - 25% progression
Action: 2018-04-13 - 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 a veterans' standard homestead exemption. Provides that the exemption applies only for the first taxable year after the veteran acquires an ownership interest in the property. Provides that the amount of the exemption is a reduction from the property's equalized assessed value in the amount of: (1) $5,000 if the property has an equalized assessed value of $250,000 or less; or (2) $10,000 if the property has an equalized assessed value of more than $250,000. Effective immediately.

Tracking Information

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Title

PROP TX-VETERANS HOMESTEAD

Sponsors


History

DateChamberAction
2018-04-13HouseRule 19(a) / Re-referred to Rules Committee
2018-04-12HouseTo Property Tax Subcommittee
2018-03-07HouseAssigned to Revenue & Finance Committee
2018-02-16HouseReferred to Rules Committee
2018-02-16HouseFirst Reading
2018-02-16HouseFiled with the Clerk by Rep. Rita Mayfield

Code Citations

ChapterArticleSectionCitation TypeStatute Text
3520015-166New CodeSee Bill Text
3520015-167Amended CodeCitation Text
3520015-169Amended CodeCitation Text

Illinois State Sources


Bill Comments

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