Bill Title: Amends the Property Tax Code. Provides that the county clerk shall abate the taxes imposed on property that qualifies for the senior citizens assessment freeze homestead exemption under Section 15-172, in an amount equal to 50% of the taxes attributable to the first $200,000 market value of the residence. Provides that the State shall reimburse each taxing district for the lost revenue. Effective immediately.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2009-03-13 - Rule 3-9(a) / Re-referred to Assignments [SB2032 Detail]

Text: Latest bill text (Introduced) [HTML]

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