IL SB2845 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 19 2024 - 25% progression
Action: 2024-05-03 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 19 2024 - 25% progression
Action: 2024-05-03 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Property Tax Code. Provides that, for the purpose of calculating the long-time occupant homestead exemption, the adjusted homestead value shall be calculated by increasing the base homestead value by (i) 5% (currently, 10%) for qualified taxpayers with a household income of more than $75,000 but not exceeding $100,000 or (ii) 3% (currently, 7%) for qualified taxpayers with a household income of $75,000 or less. Effective immediately.
Title
PROP TX-LONG-TIME OCCUPANT
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 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 |
| 2024-01-31 | Senate | Assigned to Revenue |
| 2024-01-19 | Senate | Referred to Assignments |
| 2024-01-19 | Senate | First Reading |
| 2024-01-19 | Senate | Filed with Secretary by Sen. Natalie Toro |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 35 | 200 | 15-177 | Amended Code | Citation Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2845&GAID=17&DocTypeID=SB&SessionID=112&GA=103 |
| Text | https://www.ilga.gov/legislation/103/SB/10300SB2845.htm |
