Illinois House Bill 4225

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on November 8 2023 - 25% progression
Action: 2023-11-08 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Property Tax Code. Provides that, beginning in taxable year 2024, no taxing district, other than a home rule unit, may levy a tax on any parcel of real property that is more than 108% of the tax levied by that taxing district on that property in the immediately preceding taxable year unless (i) the increase is attributable to substantial improvements to the property, (ii) the taxing district did not levy a tax against the property in the previous taxable year, or (iii) the increase is attributable to a special service area. Provides that a taxing district may elect to be exempt from those provisions for one or more taxable years if the exemption is approved by referendum. Effective immediately.

PROP TX-EXTENSIONS

Rep. Tom Weber [R]

Date	Chamber	Action
2023-11-08	House	Referred to Rules Committee
2023-11-08	House	First Reading
2023-11-08	House	Filed with the Clerk by Rep. Tom Weber

Chapter	Article	Section	Citation Type	Statute Text
35	200	18-161	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4225&GAID=17&DocTypeID=HB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/HB/10300HB4225.htm