Bill Status of SB 2398   95th General Assembly

Short Description:  PROP TX-HOMESTEAD EXEMPTIONS

Senate Sponsors
Sen. Terry Link

Last Action  View All Actions

DateChamber Action
  1/13/2009SenateSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 200/15-176
35 ILCS 200/15-177

Synopsis As Introduced
Amends the Property Tax Code. In the alternative general homestead exemption, increases the maximum amount of the exemption to $40,000 for taxable years 2007 and thereafter. In the long-time occupant homestead exemption, deletes a provision that the property's base homestead value is increased by 10% for each taxable year after the base year for qualified taxpayers with a household income of more than $75,000 but not exceeding $100,000. Provides, instead, that the property's base homestead value is increased by 7% for each taxable year after the base year for qualified taxpayers with a household income of $100,000 or less. Effective immediately.

Actions 
DateChamber Action
  2/14/2008SenateFiled with Secretary by Sen. Terry Link
  2/14/2008SenateFirst Reading
  2/14/2008SenateReferred to Rules
  2/27/2008SenateAssigned to Revenue
  3/6/2008SenateHeld in Revenue
  3/13/2008SenateTo Subcommittee
  3/14/2008SenateRule 3-9(a) / Re-referred to Rules
  1/13/2009SenateSession Sine Die

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