Bill Title: Amends the Property Tax Code. Creates a middle-class tax credit limited to a reduction in the equalized assessed value of homestead property owned by a middle-class taxpayer of 5% of the equalized assessed value of the property for the current assessment year. Provides that the maximum exemption is limited to $5,000. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced) 2023-03-10 - Rule 3-9(a) / Re-referred to Assignments [SB1725 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2023-02-09	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois SB1725

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB1725 currently on file.

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