Illinois Senate Bill 1977

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 6 2025 - 25% progression
Action: 2025-02-06 - Referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Property Tax Code. Provides that, on and after July 1, 2026, any bill to amend an existing homestead exemption or to create a new homestead exemption shall include the submission of an impact statement prepared by the sponsor of the bill. Provides that the maximum income limitation for the Low-Income Senior Citizens Assessment Freeze Homestead Exemption shall be $85,000 for taxable year 2025 and shall be subject to a cost-of-living adjustment in subsequent years. Provides that, for any tax certificates held by a county, the county clerk may create and administer a payment plan during the redemption period. Amends the Senior Citizens Real Estate Tax Deferral Act. Makes changes concerning the maximum household income. Effective immediately.

PROP TX-HOMESTEAD

Sen. Robert Peters [D]

Date	Chamber	Action
2025-02-06	Senate	Referred to Assignments
2025-02-06	Senate	First Reading
2025-02-06	Senate	Filed with Secretary by Sen. Robert Peters

Chapter	Article	Section	Citation Type	Statute Text
320	30	2	Amended Code	Citation Text
320	30	3	Amended Code	Citation Text
35	200	15-163	New Code	See Bill Text
35	200	15-172	Amended Code	Citation Text
35	200	21-385	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1977&GAID=18&DocTypeID=SB&SessionID=114&GA=104
Text	https://www.ilga.gov/legislation/104/SB/10400SB1977.htm