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Amends the Property Tax Code. Provides that, beginning with the 2026 tax year (to be collected in 2027), the total tax bill for property receiving the General Homestead Exemption may not exceed 103% of the total property tax bill for the property for the immediately preceding taxable year. Contains provisions concerning the reallocation of property tax liability.
Introduced
Feb 18, 2025
Last Action
Aug 14, 2025
Session
IL 104th
Sponsors
1 primary · 3 co
Added Co-Sponsor Rep. Brad Stephens
Added Co-Sponsor Rep. Michael J. Coffey, Jr.
Rule 19(a) / Re-referred to Rules Committee
Added Co-Sponsor Rep. Kevin Schmidt
To Tax Policy: Other Taxes Subcommittee
Assigned to Revenue & Finance Committee
Referred to Rules Committee
First Reading
Filed with the Clerk by Rep. Joe C. Sosnowski
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Added Co-Sponsor Rep. Brad Stephens
Joe C. Sosnowski