Bill Title: Amends the Property Tax Code. Provides that, on and after July 1, 2026, any bill to amend an existing homestead exemption or to create a new homestead exemption shall include the submission of an impact statement prepared by the sponsor of the bill. Provides that the maximum income limitation for the Low-Income Senior Citizens Assessment Freeze Homestead Exemption shall be $85,000 for taxable year 2025 and shall be subject to a cost-of-living adjustment in subsequent years. Provides that, for any tax certificates held by a county, the county clerk may create and administer a payment plan during the redemption period. Amends the Senior Citizens Real Estate Tax Deferral Act. Makes changes concerning the maximum household income. Effective immediately.

Sponsorship: Partisan Bill (Democrat 3)

Status: (Introduced - Dead) 2025-06-02 - Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments [SB1977 Detail]

Text: Latest bill text (Introduced) [HTML]

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