Illinois Senate Bill 1862

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Spectrum: Partisan Bill (Republican 3-0)
Status: Introduced on February 6 2025 - 25% progression
Action: 2025-02-19 - Added as Co-Sponsor Sen. Terri Bryant
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Property Tax Code. Establishes a homestead exemption for qualified homestead property that has been continuously owned, used, and occupied as the primary residence by the qualified taxpayer for at least 30 years any time prior to January 1 of the taxable year for which the exemption would apply. Requires taxpayers who have been granted an exemption to reapply on an annual basis. Provides that the assessor or chief county assessment officer may determine the eligibility of residential property to receive the homestead exemption by application, visual inspection, questionnaire, or other reasonable methods. Sets forth provisions concerning the review of exemptions granted under the provisions. Defines "qualified homestead property" and "qualified taxpayer". Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

PROP TX-30 YEAR HOMESTEAD

Sen. Neil Anderson [R]

Sen. Dave Syverson [R]

Sen. Terri Bryant [R]

Date	Chamber	Action
2025-02-19	Senate	Added as Co-Sponsor Sen. Terri Bryant
2025-02-11	Senate	Added as Co-Sponsor Sen. Dave Syverson
2025-02-06	Senate	Referred to Assignments
2025-02-06	Senate	First Reading
2025-02-06	Senate	Filed with Secretary by Sen. Neil Anderson

Chapter	Article	Section	Citation Type	Statute Text
30	805	8.49	New Code	See Bill Text
35	200	15-177.1	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1862&GAID=18&DocTypeID=SB&SessionID=114&GA=104
Text	https://www.ilga.gov/legislation/104/SB/10400SB1862.htm