Illinois General Assembly - Full Text of HB1073
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Full Text of HB1073  103rd General Assembly




State of Illinois
2023 and 2024


Introduced 1/12/2023, by Rep. Steven Reick


35 ILCS 5/208  from Ch. 120, par. 2-208

    Amends the Illinois Income Tax Act. Provides that, if the amount of the credit for residential real property taxes exceeds the taxpayer's liability, that amount shall be refunded if the taxpayer is 65 years or older and has a federal adjusted gross income of not more than $50,000. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.

LRB103 04763 HLH 49772 b





HB1073LRB103 04763 HLH 49772 b

1    AN ACT concerning revenue.
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4    Section 5. The Illinois Income Tax Act is amended by
5changing Section 208 as follows:
6    (35 ILCS 5/208)  (from Ch. 120, par. 2-208)
7    Sec. 208. Tax credit for residential real property taxes.
8Beginning with tax years ending on or after December 31, 1991,
9every individual taxpayer shall be entitled to a tax credit
10equal to 5% of real property taxes paid by such taxpayer during
11the taxable year on the principal residence of the taxpayer.
12In the case of multi-unit or multi-use structures and farm
13dwellings, the taxes on the taxpayer's principal residence
14shall be that portion of the total taxes which is attributable
15to such principal residence. Notwithstanding any other
16provision of law, for taxable years beginning on or after
17January 1, 2017, no taxpayer may claim a credit under this
18Section if the taxpayer's adjusted gross income for the
19taxable year exceeds (i) $500,000, in the case of spouses
20filing a joint federal tax return, or (ii) $250,000, in the
21case of all other taxpayers.
22    For taxable years beginning on or after January 1, 2023,
23if the amount of the credit exceeds the taxpayer's income tax



HB1073- 2 -LRB103 04763 HLH 49772 b

1liability for the applicable tax year, then the excess credit
2shall be refunded to the taxpayer if (i) the taxpayer is 65
3years old or older and (ii) has a federal adjusted gross income
4not greater than $50,000. The amount of a refund shall not be
5included in the taxpayer's income or resources for the
6purposes of determining eligibility or benefit level in any
7means-tested benefit program administered by a governmental
8entity unless required by federal law.
9    This Section is exempt from the provisions of Section 250.
10(Source: P.A. 101-8, see Section 99 for effective date;
11102-558, eff. 8-20-21.)
12    Section 99. Effective date. This Act takes effect upon
13becoming law.