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Amends the Property Tax Code. Provides that, for taxable years 2027 and thereafter, the maximum reduction for the general homestead exemption in all counties shall be the maximum reduction for the immediately preceding taxable year, increased by the percentage increase, if any, in the Consumer Price Index during the 12-month period ending on September 30 of the immediately preceding taxable year. Effective immediately.
Introduced
Feb 6, 2026
Last Action
Mar 13, 2026
Session
IL 104th
Sponsors
1 primary · 6 co
Rule 2-10 Committee Deadline Established As April 24, 2026
Added as Co-Sponsor Sen. Seth Lewis
Added as Co-Sponsor Sen. Chris Balkema
Added as Co-Sponsor Sen. Jason Plummer
Added as Co-Sponsor Sen. Darby A. Hills
Added as Co-Sponsor Sen. Craig Wilcox
Added as Co-Sponsor Sen. Jil Tracy
Assigned to Revenue
Filed with Secretary by Sen. John F. Curran
Referred to Assignments
First Reading
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Rule 2-10 Committee Deadline Established As April 24, 2026
John F. Curran