IL HB4405 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 8 2024 - 25% progression
Action: 2024-04-05 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 8 2024 - 25% progression
Action: 2024-04-05 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Income Tax Act. Provides that, for tax years ending on or after December 31, 2024, the credit for residential real property taxes is (i) 75% of the real property taxes paid by the taxpayer if the taxpayer is younger than 51 years of age on the last day of the tax year and (ii) 50% of the real property taxes paid by the taxpayer if the taxpayer is 51 years of age or older on the last day of the tax year. Provides that the credit is permanent. Effective immediately.
Title
INC TX-PROPERTY TAX CREDIT
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2024-04-05 | House | Rule 19(a) / Re-referred to Rules Committee |
| 2024-03-12 | House | Assigned to Revenue & Finance Committee |
| 2024-01-16 | House | Referred to Rules Committee |
| 2024-01-16 | House | First Reading |
| 2024-01-08 | House | Filed with the Clerk by Rep. Chris Miller |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 35 | 5 | 208 | Amended Code | Citation Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4405&GAID=17&DocTypeID=HB&SessionID=112&GA=103 |
| Text | https://www.ilga.gov/legislation/103/HB/10300HB4405.htm |
