Bill Status of HB 543   95th General Assembly

Short Description:  PROP TX-SENIOR EXEMPTIONS

House Sponsors
Rep. Brent Hassert-Tom Cross-Renée Kosel-JoAnn D. Osmond-Michael P. McAuliffe, Sandra M. Pihos, Patricia R. Bellock, Ed Sullivan, Jr., Elizabeth Coulson, Sidney H. Mathias, Bob Biggins, Michael Tryon, Patricia Reid Lindner, Ruth Munson, Jim Watson, Harry R. Ramey, Jr., Karen May, Susana A Mendoza, Linda Chapa LaVia, Sara Feigenholtz, Thomas Holbrook and Timothy L. Schmitz

Last Action  View All Actions

DateChamber Action
  1/13/2009HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 200/15-170
35 ILCS 200/15-172
35 ILCS 200/20-15

Synopsis As Introduced
Amends the Property Tax Code. In a Section concerning the Senior Citizens Homestead Exemption, increases the amount of the maximum reduction in the 2007 taxable year and provides that, for each year thereafter, the maximum reduction must be increased by an amount equal to the annual rate of increase of the Consumer Price Index. In a Section concerning the Senior Citizens Assessment Freeze Homestead Exemption, provides that, for taxable year 2007 and thereafter, the amount of the exemption is the equalized assessed value of the residence in the taxable year for which application is made minus the base amount (now, the amount of the exemption is based upon the applicant's household income). Provides that, in taxable year 2007 and thereafter, the maximum income limitation must be increased each year by an amount equal to the annual rate of increase of the Consumer Price Index. Provides that certain senior taxpayers qualify for the exemption if they have a household income that does not exceed $75,000 (indexed to the Consumer Price Index) and have occupied the property as a residence for at least the 5 consecutive years immediately preceding the current taxable year. In a Section concerning tax bills, requires that each tax bill contain a statement drafted by the Department of Revenue that informs senior taxpayers or taxpayers with a disability of property tax benefits that are or may be available to them. Makes technical changes. Effective immediately.

Actions 
DateChamber Action
  2/1/2007HouseFiled with the Clerk by Rep. Brent Hassert
  2/1/2007HouseChief Co-Sponsor Rep. Tom Cross
  2/1/2007HouseFirst Reading
  2/1/2007HouseReferred to Rules Committee
  2/6/2007HouseAdded Chief Co-Sponsor Rep. Renée Kosel
  2/6/2007HouseAdded Chief Co-Sponsor Rep. JoAnn D. Osmond
  2/6/2007HouseAdded Chief Co-Sponsor Rep. Michael P. McAuliffe
  2/6/2007HouseAdded Co-Sponsor Rep. Sandra M. Pihos
  2/6/2007HouseAdded Co-Sponsor Rep. Patricia R. Bellock
  2/6/2007HouseAdded Co-Sponsor Rep. Ed Sullivan, Jr.
  2/6/2007HouseAdded Co-Sponsor Rep. Elizabeth Coulson
  2/6/2007HouseAdded Co-Sponsor Rep. Sidney H. Mathias
  2/7/2007HouseAdded Co-Sponsor Rep. Bob Biggins
  2/7/2007HouseAdded Co-Sponsor Rep. Michael Tryon
  2/7/2007HouseAssigned to Revenue Committee
  2/8/2007HouseAdded Co-Sponsor Rep. Patricia Reid Lindner
  2/14/2007HouseAdded Co-Sponsor Rep. Ruth Munson
  2/21/2007HouseAdded Co-Sponsor Rep. Jim Watson
  2/21/2007HouseAdded Co-Sponsor Rep. Harry R. Ramey, Jr.
  3/15/2007HouseAdded Co-Sponsor Rep. Karen May
  3/15/2007HouseAdded Co-Sponsor Rep. Susana A Mendoza
  3/15/2007HouseAdded Co-Sponsor Rep. Linda Chapa LaVia
  3/15/2007HouseAdded Co-Sponsor Rep. Sara Feigenholtz
  3/22/2007HouseAdded Co-Sponsor Rep. Thomas Holbrook
  3/23/2007HouseRule 19(a) / Re-referred to Rules Committee
  1/22/2008HouseAdded Co-Sponsor Rep. Timothy L. Schmitz
  1/13/2009HouseSession Sine Die

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