Illinois General Assembly - Bill Status for SB2703
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 Bill Status of SB2703  103rd General Assembly

Short Description:  PROP TX-HISTORIC RESIDENCE

Senate Sponsors
Sen. Cristina Castro and Laura M. Murphy

House Sponsors
(Rep. Kelly M. Burke)

Last Action
DateChamber Action
  4/24/2024HouseAssigned to Revenue & Finance Committee

Statutes Amended In Order of Appearance
35 ILCS 200/10-40
35 ILCS 200/10-50


Synopsis As Introduced
Amends the Property Tax Code. In provisions concerning the Historic Residence Assessment Freeze Law, provides that the fair cash value of the property shall be based on the final determination by the assessment officer, board of review, Property Tax Appeal Board, or court. Provides that, after the expiration of the 8-year valuation period, if the current fair cash value is less than the adjusted base year valuation, then the assessment shall be based on the current fair cash value. Provides that these changes are declarative of existing law.

Actions 
DateChamber Action
  1/10/2024SenateFiled with Secretary by Sen. Cristina Castro
  1/10/2024SenateFirst Reading
  1/10/2024SenateReferred to Assignments
  1/31/2024SenateAssigned to Revenue
  2/21/2024SenateDo Pass Revenue; 008-000-000
  2/21/2024SenatePlaced on Calendar Order of 2nd Reading February 22, 2024
  3/14/2024SenateSecond Reading
  3/14/2024SenatePlaced on Calendar Order of 3rd Reading March 20, 2024
  4/10/2024SenatePlaced on Calendar Order of 3rd Reading **
  4/10/2024SenateAdded as Co-Sponsor Sen. Laura M. Murphy
  4/12/2024SenateThird Reading - Passed; 059-000-000
  4/12/2024HouseArrived in House
  4/15/2024HouseChief House Sponsor Rep. Kelly M. Burke
  4/15/2024HouseFirst Reading
  4/15/2024HouseReferred to Rules Committee
  4/24/2024HouseAssigned to Revenue & Finance Committee

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