IL SB2095 | 2025-2026 | 104th General Assembly
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 6 2025 - 25% progression
Action: 2025-02-25 - Assigned to Revenue
Pending: Senate Revenue Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 6 2025 - 25% progression
Action: 2025-02-25 - Assigned to Revenue
Pending: Senate Revenue Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Property Tax Code. Provides that, for taxable year 2025, the maximum reduction for the general homestead exemption shall be $10,000 in all counties. Provides that, for taxable years 2026 and thereafter, the maximum reduction for the general homestead exemption in all counties shall be the maximum reduction for the immediately preceding taxable year, increased by the lesser of (i) 5% or (ii) the percentage increase in the Consumer Price Index during the 12-month period ending on September 30 of the immediately preceding taxable year. Effective immediately.
Title
PROP TX-GENERAL HOMESTEAD
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2025-02-25 | Senate | Assigned to Revenue |
| 2025-02-06 | Senate | Referred to Assignments |
| 2025-02-06 | Senate | First Reading |
| 2025-02-06 | Senate | Filed with Secretary by Sen. Erica Harriss |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 35 | 200 | 15-175 | Amended Code | Citation Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2095&GAID=18&DocTypeID=SB&SessionID=114&GA=104 |
| Text | https://www.ilga.gov/legislation/104/SB/10400SB2095.htm |
