Bill Status of HB 4070   93rd General Assembly

Short Description:  PROP TAXES-HOMESTEAD EXEMPTION

House Sponsors
Rep. Lee A. Daniels-Robert W. Churchill-John J. Millner-Paul D. Froehlich-Larry McKeon, Monique D. Davis, Kenneth Dunkin, Frank Aguilar, Mary E. Flowers and Sidney H. Mathias

Last Action  View All Actions

DateChamber Action
  1/11/2005HouseSession Sine Die

Statutes Amended In Order of Appearance
20 ILCS 620/6from Ch. 67 1/2, par. 1006
35 ILCS 200/14-15
35 ILCS 200/15-10
35 ILCS 200/15-170
35 ILCS 200/15-172
35 ILCS 200/15-175
35 ILCS 200/15-176 new
35 ILCS 200/15-180
35 ILCS 200/20-178
55 ILCS 85/6from Ch. 34, par. 7006
55 ILCS 90/45from Ch. 34, par. 8045
65 ILCS 5/11-74.4-8from Ch. 24, par. 11-74.4-8
65 ILCS 5/11-74.4-9from Ch. 24, par. 11-74.4-9
65 ILCS 5/11-74.6-40
65 ILCS 110/45
105 ILCS 5/18-8.05
720 ILCS 5/17A-1from Ch. 38, par. 17A-1
30 ILCS 805/8.28 new

Synopsis As Introduced
Amends the Property Tax Code. Provides that, in counties with 3,000,000 or more inhabitants, if a property has been granted a Senior Citizens Homestead Exemption, then the person qualifying need not reapply for the exemption. Increases the ceiling for household income eligibility for the Senior Citizens Assessment Freeze Homestead Exemption provisions, for taxable years 2003 and thereafter, from $40,000 per year to $45,000 per year. Creates a general homestead exemption provision that applies only to counties with 3,000,000 or more inhabitants and counties contiguous to counties with 3,000,000 or more inhabitants. Provides that the amount of the exemption is the equalized assessed value of the homestead property for the current tax year minus, in most cases, the property's base homestead value increased by 7% for each tax year after 2002 through and including the current tax year. Establishes procedures for determining the base homestead value of property improved after the 2002 tax year. Sunsets the provisions after the 2010 assessment year. Amends the Economic Development Area Tax Increment Allocation Act, the County Economic Development Project Area Property Tax Allocation Act, the County Economic Development Project Area Tax Increment Allocation Act of 1991, the Economic Development Project Area Tax Increment Allocation Act of 1995, the Tax Increment Allocation Redevelopment Act and the Industrial Jobs Recovery Law in the Illinois Municipal Code, the School Code, and the Criminal Code of 1961 to include a cross reference to the new general homestead exemption provision in the Property Tax Code. In provisions that authorize a partial exemption from property taxes for homestead properties that have been improved and residential structures on homestead property that have been rebuilt following a catastrophic event, changes the limit to $75,000 per year for that homestead property beginning January 1, 2004 and thereafter (now, $45,000 per year). Amends the State Mandates Act to require implementation without reimbursement for the new general homestead exemption and the Senior Citizens Assessment Freeze Homestead Exemption. Effective immediately.

Actions 
DateChamber Action
  1/15/2004HouseFiled with the Clerk by Rep. Lee A. Daniels
  1/15/2004HouseAdded Co-Sponsor Rep. Paul D. Froehlich
  1/15/2004HouseAdded Co-Sponsor Rep. John J. Millner
  1/15/2004HouseAdded Co-Sponsor Rep. Monique D. Davis
  1/15/2004HouseAdded Co-Sponsor Rep. Kenneth Dunkin
  1/15/2004HouseAdded Co-Sponsor Rep. Frank Aguilar
  1/15/2004HouseAdded Co-Sponsor Rep. Mary E. Flowers
  1/15/2004HouseAdded Chief Co-Sponsor Rep. Robert W. Churchill
  1/15/2004HouseAdded Chief Co-Sponsor Rep. John J. Millner
  1/15/2004HouseAdded Chief Co-Sponsor Rep. Paul D. Froehlich
  1/15/2004HouseAdded Chief Co-Sponsor Rep. Larry McKeon
  1/15/2004HouseFirst Reading
  1/15/2004HouseReferred to Rules Committee
  2/10/2004HouseAdded Co-Sponsor Rep. Sidney H. Mathias
  1/11/2005HouseSession Sine Die

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