Bill Title: Amends the Property Tax Code. Creates a homestead exemption for eligible property that contains a single family residence that was built no earlier than January 1, 2021 by a municipality and was sold to a private homeowner before January 1, 2035. Provides that the exemption applies for a 10-year period beginning with the tax year following the year in which the property is first sold by the municipality to a private homeowner. Sets forth the amount of the exemption. Effective immediately.

Sponsorship: Partisan Bill (Democrat 14)

Status: (Passed) 2024-08-09 - Public Act . . . . . . . . . 103-0793 [HB1377 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Chaptered	2024-08-14	HTML/Text	Link	View
Enrolled	2024-05-25	HTML/Text	Link	View
Engrossed	2024-04-10	HTML/Text	Link	View
Introduced	2023-01-24	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
House Amendment 001	2024-03-27	Proposed	HTML/Text	Link	View
House Amendment 002	2024-03-27	Proposed	HTML/Text	Link	View

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB1377 currently on file.