HB4626 - 104th General Assembly (2025-2026)
PROP TX-HOMESTEAD EXEMPTION
Last Action
3/18/2026 - House: Assigned to Revenue & Finance Committee
Hearings
Tax Policy: Sales Tax Subcommittee Hearing Mar 26 2026 8:08AM Stratton Building Room D-1 Springfield, IL
Tax Policy: Other Taxes Subcommittee Hearing Mar 26 2026 8:07AM Stratton Building Room D-1 Springfield, IL
Tax Policy: Income Tax Subcommittee Hearing Mar 26 2026 8:06AM Stratton Building Room D-1 Springfield, IL
Tax Policy: Finance Subcommittee Hearing Mar 26 2026 8:05AM Stratton Building Room D-1 Springfield, IL
Tax Credit and Incentives Subcommittee Hearing Mar 26 2026 8:04AM Stratton Building Room D-1 Springfield, IL
Sales Tax Subcommittee Hearing Mar 26 2026 8:03AM Stratton Building Room D-1 Springfield, IL
Revenue & Finance Committee Hearing Mar 26 2026 8:00AM Stratton Building Room D-1 Springfield, IL
Property Tax Subcommittee Hearing Mar 26 2026 8:02AM Stratton Building Room D-1 Springfield, IL
Income Tax Subcommittee Hearing Mar 26 2026 8:01AM Stratton Building Room D-1 Springfield, IL
Finance Subcommittee Hearing Mar 26
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Property Tax Code. Provides that, for taxable years 2026 and thereafter, the amount of the general homestead exemption is the sum of: (i) $10,000 in counties with 3,000,000 or more inhabitants, $8,000 in counties that are contiguous to a county of 3,000,000 or more inhabitants, and $6,000 in all other counties; plus (ii) the difference between the equalized assessed value for the property in the current taxable year and the equalized assessed value for the property in the base year. Effective immediately.
Actions
| Date | Chamber | Action |
|---|---|---|
| 1/27/2026 | House | Filed with the Clerk by Rep. Joe C. Sosnowski |
| 2/03/2026 | House | First Reading |
| 2/03/2026 | House | Referred to Rules Committee |
| 3/18/2026 | House | Assigned to Revenue & Finance Committee |