Illinois General Assembly - Bill Status for SB1492

Synopsis As Introduced
Amends the Property Tax Code. In provisions concerning platted and subdivided but undeveloped property, provides that (i) beginning with the 2025 taxable year, no property's assessed value shall be reduced to less than $150 under those provisions and (ii) beginning with the 2035 taxable year, no property shall be eligible for calculation of its assessed value under those provisions for more than a 10-year period.

Actions

Date	Chamber	Action
1/31/2025	Senate	Filed with Secretary by Sen. Meg Loughran Cappel
1/31/2025	Senate	First Reading
1/31/2025	Senate	Referred to Assignments
2/11/2025	Senate	Assigned to Revenue

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