Date	Chamber	Action
1/11/2011	House	Session 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 alternative general homestead exemption applies on a permanent basis and increases the maximum amount of the exemption to $40,000 beginning in taxable year 2010. Removes an income limitation from the long-time occupant homestead exemption. Provides that, beginning in taxable year 2010, for the purpose of calculating the long-time occupant homestead exemption, "adjusted homestead value" is 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 or (ii) the property's equalized assessed value for the current tax year minus the general homestead deduction. Effective immediately.

Actions 

Date	Chamber	Action
1/14/2010	House	Filed with the Clerk by Rep. Suzanne Bassi
1/14/2010	House	Chief Co-Sponsor Rep. Sidney H. Mathias
1/14/2010	House	Chief Co-Sponsor Rep. Michael P. McAuliffe
1/15/2010	House	First Reading
1/15/2010	House	Referred to Rules Committee
1/11/2011	House	Session Sine Die

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