Illinois General Assembly - Bill Status for HB1199
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 Bill Status of HB1199  104th General Assembly


Short Description:  PROP TX-EXTENSION LIMITATION

House Sponsors
Rep. Rita Mayfield

Hearings
Revenue & Finance Committee Hearing Feb 20 2025 8:00AM Capitol Building 114 and Virtual Room 1 Springfield, IL


Last Action
DateChamber Action
  2/11/2025HouseAssigned to Revenue & Finance Committee

Statutes Amended In Order of Appearance
35 ILCS 200/18-105.1 new


Synopsis As Introduced
Amends the Property Tax Code. Provides that, notwithstanding any other provision of law, beginning in taxable year 2026, no county clerk may extend against any property an annual property tax that exceeds the amount generated by multiplying the property tax liability for the property in the immediately preceding taxable year by one plus the percentage increase, if any, in the Consumer Price Index for the 12-month period ending in September of the immediately preceding taxable year, unless the increase in the property tax liability is the result of improvements to the property or the result of the removal of one or more exemptions that were granted with respect to the property for the immediately preceding taxable year. Effective immediately.

Actions 
DateChamber Action
  1/9/2025HouseFiled with the Clerk by Rep. Rita Mayfield
  1/9/2025HouseFirst Reading
  1/9/2025HouseReferred to Rules Committee
  2/11/2025HouseAssigned to Revenue & Finance Committee

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