Illinois General Assembly - Bill Status for HB4405

Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that, for tax years ending on or after December 31, 2024, the credit for residential real property taxes is (i) 75% of the real property taxes paid by the taxpayer if the taxpayer is younger than 51 years of age on the last day of the tax year and (ii) 50% of the real property taxes paid by the taxpayer if the taxpayer is 51 years of age or older on the last day of the tax year. Provides that the credit is permanent. Effective immediately.

Actions

Date	Chamber	Action
1/8/2024	House	Filed with the Clerk by Rep. Chris Miller
1/16/2024	House	First Reading
1/16/2024	House	Referred to Rules Committee
3/12/2024	House	Assigned to Revenue & Finance Committee
4/5/2024	House	Rule 19(a) / Re-referred to Rules Committee

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