Illinois General Assembly - Bill Status for HB1428

Synopsis As Introduced
Amends the Property Tax Code. Provides that, for taxable years 2024 and thereafter, the term "maximum income limitation" for the low-income senior citizens assessment freeze homestead exemption means the greater of (i) $80,000 or (ii) $80,000 adjusted by certain increases in the consumer price index-u. Provides that the Department of Revenue shall, not later than January 31 of each calendar year, calculate, publish, and transmit to all county clerks and county treasurers the indexed maximum income limitation number. In provisions concerning the general homestead exemption, provides that, for taxable years 2024 and thereafter, the maximum reduction is $10,000 in all counties.

Actions

Date	Chamber	Action
1/25/2023	House	Filed with the Clerk by Rep. Joe C. Sosnowski
1/31/2023	House	First Reading
1/31/2023	House	Referred to Rules Committee

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