Illinois General Assembly - Bill Status for SB2398

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Bill Status of SB2398 102nd General Assembly

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Short Description: PROP TX-HOMESTEAD EXEMPTIONS

Senate Sponsors
Sen. Terry Link

Last Action

Date	Chamber	Action
1/13/2009	Senate	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. In the alternative general homestead exemption, increases the maximum amount of the exemption to $40,000 for taxable years 2007 and thereafter. In the long-time occupant homestead exemption, deletes a provision that the property's base homestead value is increased by 10% for each taxable year after the base year for qualified taxpayers with a household income of more than $75,000 but not exceeding $100,000. Provides, instead, that the property's base homestead value is increased by 7% for each taxable year after the base year for qualified taxpayers with a household income of $100,000 or less. Effective immediately.

Actions

Date	Chamber	Action
2/14/2008	Senate	Filed with Secretary by Sen. Terry Link
2/14/2008	Senate	First Reading
2/14/2008	Senate	Referred to Rules
2/27/2008	Senate	Assigned to Revenue
3/6/2008	Senate	Held in Revenue
3/13/2008	Senate	To Subcommittee
3/14/2008	Senate	Rule 3-9(a) / Re-referred to Rules
1/13/2009	Senate	Session Sine Die

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