Illinois General Assembly - Bill Status for HB1496
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 Bill Status of HB1496  104th General Assembly

Short Description:  PROP TX-LIMIT ASSESSMENTS

House Sponsors
Rep. Brad Halbrook - Martin McLaughlin - Blaine Wilhour, Michael J. Coffey, Jr., Adam M. Niemerg, David Friess, Chris Miller, Brandun Schweizer, Travis Weaver, John M. Cabello, Bradley Fritts, Nicole La Ha and Amy L. Grant

Hearings
Tax Policy: Other Taxes Subcommittee Hearing Mar 20 2025 8:08AM Capitol Building 114 and Virtual Room 1 Springfield, IL
Tax Policy: Other Taxes Subcommittee Hearing Mar 20 2025 2:08PM Stratton Building Room D-1 Springfield, IL
Revenue & Finance Committee Hearing Mar 20 2025 8:00AM Capitol Building 114 and Virtual Room 1 Springfield, IL
Revenue & Finance Committee Hearing Mar 20 2025 2:00PM Stratton Building Room D-1 Springfield, IL


Last Action
DateChamber Action
  3/3/2025HouseTo Tax Policy: Other Taxes Subcommittee

Statutes Amended In Order of Appearance
35 ILCS 200/9-162 new


Synopsis As Introduced
Amends the Property Tax Code. Provides that, beginning with the 2026 assessment year, the valuation of property in any general assessment year may not exceed (i) 101% of the value of the property in the previous tax year if the property is residential or (ii) 102% of the value of the property in the previous tax year if the property is not residential. Provides that the limitation does not apply if the increase in value is due to an addition, modification, or improvement to the property or if there has been a change in ownership of the property during the previous tax year. Preempts the power of home rule units to tax.

Actions 
DateChamber Action
  1/21/2025HouseFiled with the Clerk by Rep. Brad Halbrook
  1/28/2025HouseFirst Reading
  1/28/2025HouseReferred to Rules Committee
  2/5/2025HouseAdded Co-Sponsor Rep. Michael J. Coffey, Jr.
  2/18/2025HouseAssigned to Revenue & Finance Committee
  2/20/2025HouseAdded Co-Sponsor Rep. Adam M. Niemerg
  2/20/2025HouseAdded Co-Sponsor Rep. David Friess
  2/20/2025HouseAdded Co-Sponsor Rep. Chris Miller
  2/25/2025HouseAdded Co-Sponsor Rep. Brandun Schweizer
  2/27/2025HouseAdded Co-Sponsor Rep. Travis Weaver
  2/27/2025HouseAdded Co-Sponsor Rep. John M. Cabello
  2/27/2025HouseAdded Co-Sponsor Rep. Bradley Fritts
  2/27/2025HouseAdded Co-Sponsor Rep. Nicole La Ha
  2/27/2025HouseAdded Chief Co-Sponsor Rep. Martin McLaughlin
  2/27/2025HouseAdded Chief Co-Sponsor Rep. Blaine Wilhour
  2/27/2025HouseChief Co-Sponsor Changed to Rep. Blaine Wilhour
  3/3/2025HouseAdded Co-Sponsor Rep. Amy L. Grant
  3/3/2025HouseTo Tax Policy: Other Taxes Subcommittee

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