Illinois General Assembly - Bill Status for HB4291
Illinois General Assembly

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 Bill Status of HB4291  9th General Assembly


Short Description:  PROP TX-SELLING PRICE EXEMPT

House Sponsors
Rep. Jack D. Franks

Last Action
DateChamber Action
  1/10/2017HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 200/15-178 new


Synopsis As Introduced
Amends the Property Tax Code. Provides that, if the cumulative amount paid in property taxes by a particular taxpayer for a particular parcel of homestead property equals or exceeds the selling price of that homestead property at the time the property was sold, transferred, or conveyed to the taxpayer, then that property is exempt from taxation until such time as the property is sold, transferred, or conveyed to another taxpayer. Effective immediately.

Actions 
DateChamber Action
  9/9/2015HouseFiled with the Clerk by Rep. Jack D. Franks
  9/18/2015HouseFirst Reading
  9/18/2015HouseReferred to Rules Committee
  2/4/2016HouseAssigned to Revenue & Finance Committee
  2/24/2016HouseTo Property Tax Subcommittee
  4/8/2016HouseRule 19(a) / Re-referred to Rules Committee
  1/10/2017HouseSession Sine Die

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