Illinois General Assembly - Bill Status for SB2095

Synopsis As Introduced
Amends the Property Tax Code. Provides that, for taxable year 2025, the maximum reduction for the general homestead exemption shall be $10,000 in all counties. Provides that, for taxable years 2026 and thereafter, the maximum reduction for the general homestead exemption in all counties shall be the maximum reduction for the immediately preceding taxable year, increased by the lesser of (i) 5% or (ii) the percentage increase in the Consumer Price Index during the 12-month period ending on September 30 of the immediately preceding taxable year. Effective immediately.

Actions

Date	Chamber	Action
2/6/2025	Senate	Filed with Secretary by Sen. Erica Harriss
2/6/2025	Senate	First Reading
2/6/2025	Senate	Referred to Assignments
2/25/2025	Senate	Assigned to Revenue

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