Illinois Senate Bill 2695 (Prior Session Legislation)

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

Amends the Property Tax Code. Provides that, for assessment years following the next general assessment after the effective date of the amendatory Act, no increase in assessment may exceed 20% per year. Provides exceptions if: (1) the property is sold, transferred, or conveyed during the taxable year; (2) significant improvements were made to the property; (3) a homestead exemption or other preferential method of assessment was removed with respect to that property during the taxable year; or (4) the increase was due to an equalization factor imposed by the township, county, or Department of Revenue. Effective immediately.

PROPERTY TAX-ASSESSMENT CAP

Sen. Julie Morrison [D]

Date	Chamber	Action
2025-01-07	Senate	Session Sine Die
2024-05-03	Senate	Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments
2024-05-03	Senate	Rule 3-9(a) / Re-referred to Assignments
2024-04-05	Senate	Rule 2-10 Committee Deadline Established As May 3, 2024
2024-03-15	Senate	Rule 2-10 Committee Deadline Established As April 5, 2024
2024-03-05	Senate	Senate Committee Amendment No. 1 Assignments Refers to Revenue
2024-03-01	Senate	Senate Committee Amendment No. 1 Referred to Assignments
2024-03-01	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. Julie A. Morrison
2024-01-31	Senate	Assigned to Revenue
2024-01-10	Senate	Referred to Assignments
2024-01-10	Senate	First Reading
2024-01-10	Senate	Filed with Secretary by Sen. Julie A. Morrison

Chapter	Article	Section	Citation Type	Statute Text
35	200	9-145	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2695&GAID=17&DocTypeID=SB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/SB/10300SB2695.htm
Amendment	https://www.ilga.gov/legislation/103/SB/10300SB2695sam001.htm