Illinois General Assembly - Bill Status for SB2731

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Bill Status of SB2731 95th General Assembly

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Short Description: PROP TX-HOMESTEAD EXEMPTIONS

Senate Sponsors
Sen. Gary G. Dahl

Last Action

Date	Chamber	Action
1/13/2009	Senate	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 200/15-163 new

Synopsis As Introduced
Amends the Property Tax Code. Creates a homestead exemption for homestead property that is the subject of a charitable transfer from Habitat for Humanity to a partner family. Provides that the amount of the exemption is the equalized assessed value of the property less 33 1/3% of the actual costs incurred for the construction of the residence, and for each taxable year thereafter, the amount of the exemption is the amount of the exemption for the previous taxable year less 30% of that previous exemption. Effective immediately.

Actions

Date	Chamber	Action
2/15/2008	Senate	Filed with Secretary by Sen. Gary G. Dahl
2/15/2008	Senate	First Reading
2/15/2008	Senate	Referred to Rules
1/13/2009	Senate	Session Sine Die

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