Bill Status of HB5432  101st General Assembly

Short Description:  PROP TX-FIRST-TIME HOMEBUYER

House Sponsors
Rep. David A. Welter - Grant Wehrli - Amy Grant, Lindsay Parkhurst, Tom Weber and Darren Bailey

Last Action
DateChamber Action
  1/13/2021HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 200/15-179 new
30 ILCS 805/8.44 new


Synopsis As Introduced
Amends the Property Tax Code. Creates a first-time homebuyer homestead exemption. Provides that residential property valued at $75,000 or more that is owned and occupied by a first-time homebuyer is entitled to a reduction in the equalized assessed value of the property in the amount of $7,500. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Actions 
DateChamber Action
  2/14/2020HouseFiled with the Clerk by Rep. David A. Welter
  2/14/2020HouseChief Co-Sponsor Rep. Grant Wehrli
  2/14/2020HouseChief Co-Sponsor Rep. Amy Grant
  2/14/2020HouseCo-Sponsor Rep. Lindsay Parkhurst
  2/14/2020HouseCo-Sponsor Rep. Tom Weber
  2/14/2020HouseCo-Sponsor Rep. Darren Bailey
  2/18/2020HouseFirst Reading
  2/18/2020HouseReferred to Rules Committee
  3/12/2020HouseAssigned to Revenue & Finance Committee
  6/23/2020HouseRule 19(b) / Re-referred to Rules Committee
  1/13/2021HouseSession Sine Die