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]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Laura Murphy [D]	Primary	Sponsored Bills	SD-028	FollowTheMoney	Ballotpedia	VoteSmart
Senator Mary Edly-Allen [D]	Cosponsor	Sponsored Bills	SD-031	FollowTheMoney	Ballotpedia	VoteSmart
Senator Linda Holmes [D]	Cosponsor	Sponsored Bills	SD-042	FollowTheMoney	Ballotpedia	VoteSmart
Senator Michael Halpin [D]	Cosponsor	Sponsored Bills	SD-036	FollowTheMoney	Ballotpedia	VoteSmart

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