Bill Text: IL HB1495 | 2025-2026 | 104th General Assembly | Introduced

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Bill Title: Amends the Department of Revenue Law of the Civil Administrative Code of Illinois. Provides that the Department of Revenue shall establish and administer a property tax relief pilot program. Provides that eligible homeowners shall receive a one-time direct relief payment in an amount equal to a percentage, determined by the Department by rule, of the eligible homeowner's property tax liability for the 2025 tax year. Requires the Department of Revenue to submit a report in connection with the Program to the Governor and the General Assembly. Creates the Property Tax Relief Program Fund of 2026. Provides that moneys in the Fund shall be used by the Department for the purpose of making property tax relief payments. Amends the State Finance Act to make conforming changes.

Spectrum: Partisan Bill (Republican 7-0)

Status: (Introduced) 2025-02-20 - Added Co-Sponsor Rep. Chris Miller [HB1495 Detail]

Download: Illinois-2025-HB1495-Introduced.html

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104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1495 Introduced , by Rep. Brad Halbrook SYNOPSIS AS INTRODUCED:
20 ILCS 2505/2505-835 new
30 ILCS 105/5.1030 new
Amends the Department of Revenue Law of the Civil Administrative Code of Illinois. Provides that the Department of Revenue shall establish and administer a property tax relief pilot program. Provides that eligible homeowners shall receive a one-time direct relief payment in an amount equal to a percentage, determined by the Department by rule, of the eligible homeowner's property tax liability for the 2025 tax year. Requires the Department of Revenue to submit a report in connection with the Program to the Governor and the General Assembly. Creates the Property Tax Relief Program Fund of 2026. Provides that moneys in the Fund shall be used by the Department for the purpose of making property tax relief payments. Amends the State Finance Act to make conforming changes.
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A BILL FOR
HB1495 LRB104 06533 HLH 16569 b
AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Department of Revenue Law of the Civil
Administrative Code of Illinois is amended by adding Section
2505-835 as follows:
(20 ILCS 2505/2505-835 new)
Sec. 2505-835. Property Tax Relief Pilot Program.
(a) Subject to appropriation, the Department shall
establish and administer a property tax relief pilot program.
Under the pilot program, eligible homeowners shall receive a
one-time direct relief payment in an amount equal to a
percentage, determined by the Department by rule, of the
eligible homeowner's property tax liability for the 2025 tax
year. Only one payment shall be made for each parcel of
qualifying property. Payments under this Section shall be
disbursed to eligible homeowners no later than December 31,
2026. The Department may provide by rule that any surplus
moneys remaining in the Property Tax Relief Program Fund of
2026 shall be distributed to eligible homeowners who are
members of low-income households. The Department, in
consultation with the State Comptroller, shall adopt rules
concerning the payment amount and the distribution of the

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payments under this Section.
(b) In order to qualify for a payment under this Section:
(1) the qualifying property must be classified as
residential on January 1, 2025 and on January 1, 2026;
(2) the eligible homeowner must be liable for the
payment of property taxes on the qualifying property for
the 2025 taxable year; and
(3) the eligible homeowner must apply to the
Department for a payment under this Section no later than
August 31, 2026.
(c) The Department shall submit a report in connection
with the program under this Section to the Governor and the
General Assembly. The report shall be submitted no later than
September 1, 2027. The report shall include a summary of the
number of payments distributed under this Section, the total
dollar amount of payments distributed under this Section by
household market value, and any recommendations for future
property tax relief.
(d) The Property Tax Relief Program Fund of 2026 is hereby
created as a special fund in the State treasury. Moneys in the
Fund shall be used by the Department for the purpose of making
payments under this Section. On July 1, 2026, or as soon
thereafter as possible, the State Comptroller shall order
transferred and the State Treasurer shall transfer from the
General Revenue Fund to the Property Tax Relief Program Fund
of 2026 the amount of $6,000,000,000.

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(e) As used in this Section:
"Department" means the Department of Revenue.
"Direct relief payment" means a payment made from the
Property Tax Relief Program Fund of 2026 to an eligible
homeowner under this Section.
"Eligible homeowner" means a person who (i) owns
qualifying property in the State as of January 1, 2025 or (ii)
as of January 1, 2025, has a leasehold interest in qualifying
property in the State on which a single family residence is
situated that is occupied as a residence by an eligible
homeowner who has a legal or equitable interest in that
property, as evidenced by a written instrument, as an owner or
as a lessee, and on which the eligible homeowner is liable for
the payment of property taxes.
"Homestead property" has the meaning given to that term in
Section 15-175 of the Property Tax Code.
"Qualifying property" means homestead property that, as of
January 1, 2025, is occupied by an eligible homeowner as the
eligible homeowner's principal dwelling place.
(f) This Section is repealed on January 1, 2028.
Section 10. The State Finance Act is amended by adding
Section 5.1030 as follows:
(30 ILCS 105/5.1030 new)
Sec. 5.1030. The Property Tax Relief Program Fund of 2026.