Illinois General Assembly - Bill Status for SB3933
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 Bill Status of SB3933  96th General Assembly


Short Description:  PROP TX-EXTEND EXEMPTIONS

Senate Sponsors
Sen. Dan Kotowski

Last Action
DateChamber Action
  1/12/2011SenateSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 200/15-176
35 ILCS 200/15-177


Synopsis As Introduced
Amends the Property Tax Code. Provides that the maximum amount of the alternative general homestead exemption is $30,000 for taxable year 2009 and thereafter. Provides that the alternative general homestead exemption applies on a permanent basis. In a Section concerning the long-time occupant homestead exemption, provides that, for taxable year 2009 and thereafter, the term "adjusted homestead value" means the lesser of: (i) the property's base homestead value increased by 7% for each taxable year after the base year through and including the current tax year for qualified taxpayers with a household income of $100,000 or less or (ii) the property's equalized assessed value for the current tax year minus the general homestead deduction. Effective immediately.

Actions 
DateChamber Action
  5/26/2010SenateFiled with Secretary by Sen. Dan Kotowski
  5/26/2010SenateFirst Reading
  5/26/2010SenateReferred to Assignments
  1/12/2011SenateSession Sine Die

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