Bill Title: Amends the Property Tax Code. Provides that, for taxable years 2024 and thereafter, the term "maximum income limitation" for the low-income senior citizens assessment freeze homestead exemption means the greater of (i) $80,000 or (ii) $80,000 adjusted by certain increases in the consumer price index-u. Provides that the Department of Revenue shall, not later than January 31 of each calendar year, calculate, publish, and transmit to all county clerks and county treasurers the indexed maximum income limitation number. In provisions concerning the general homestead exemption, provides that, for taxable years 2024 and thereafter, the maximum reduction is $10,000 in all counties.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2023-01-31 - Referred to Rules Committee [HB1428 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Representative Joe Sosnowski [R]	Primary	Sponsored Bills	HD-069	FollowTheMoney	Ballotpedia	VoteSmart

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