Bill Title: Amends the Property Tax Code. Provides that, in counties with 3,000,000 or more inhabitants, when homestead property is sold or transferred, the new owner of the property shall notify the chief county assessment officer of the sale or transfer and, if qualified, shall reapply for the general homestead exemption. Provides that, upon notification or application, the chief county assessment officer shall remove any previously granted homestead exemptions for which the property is no longer eligible. Effective immediately.

Spectrum: Moderate Partisan Bill (Democrat 9-1)

Status: (Passed) 2015-07-28 - Public Act . . . . . . . . . 99-0164 [SB0780 Detail]

Text: Latest bill text (Chaptered) [HTML]

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