Bill Title: Amends the Property Tax Code. Provides that, for taxable year 2023, the maximum income limitation for the low-income senior citizens assessment freeze homestead exemption is (i) $75,000 for qualified property in a county with 3,000,000 or more inhabitants and (ii) $65,000 for qualified property located in a county with fewer than 3,000,000 inhabitants. Provides that, for taxable years 2024 and thereafter, the maximum income limitation for the low-income senior citizens assessment freeze homestead exemption is $75,000 for all qualified property. Amends the Senior Citizens Real Estate Tax Deferral Act. Provides that the maximum household income under the Act is $75,000 for tax years 2023 and thereafter. Effective immediately.
Spectrum: Partisan Bill (Democrat 4-0)
Status: (Introduced) 2024-05-15 - Added as Chief Co-Sponsor Sen. Linda Holmes
[SB2030 Detail]
Bill Drafts
| Revision | Date | Format | Source | View |
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| Introduced | 2023-02-09 | HTML/Text | Link | View |
Amendments
| Amendment | Date | Disposition | Format | Source | View |
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| No bill amendments currently on file for Illinois SB2030 |
Supplemental Documents
| Title | Description | Date | Format | Source | View |
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| No supplemental documents for Illinois SB2030 currently on file. |
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