Comments: IL HB1321 | 2025-2026 | 104th General Assembly

Bill Title: Amends the Property Tax Code. Provides that no taxing district may hold more than 150% of the previous levy year's property tax collections in cash or cash-equivalent assets. Provides that excess amounts shall be refunded to taxpayers. Effective immediately.

Sponsorship: Partisan Bill (Republican 3)

Status: (Introduced) 2026-03-27 - Rule 19(a) / Re-referred to Rules Committee [HB1321 Detail]

Text: Latest bill text (Introduced) [HTML]

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