Illinois General Assembly - Bill Status for SB2114

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Bill Status of SB2114 93rd General Assembly

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Short Description: PROP TAX-CATASTROPHE EXEMPTION

Senate Sponsors
Sen. Iris Y. Martinez

Last Action

Date	Chamber	Action
1/11/2005	Senate	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 200/15-180

Synopsis As Introduced
Amends 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). Provides that the exemption shall continue until the homestead property is sold or otherwise transferred (now, for 4 years from the date the improvement or rebuilding is completed and occupied, or until the next following general assessment of that property, whichever is later). Effective immediately.

Actions

Date	Chamber	Action
11/4/2003	Senate	Filed with Secretary by Sen. Iris Y. Martinez
11/4/2003	Senate	First Reading
11/4/2003	Senate	Referred to Rules
2/4/2004	Senate	Assigned to Revenue
2/10/2004	Senate	To Subcommittee
2/26/2004	Senate	Postponed - Revenue
2/27/2004	Senate	Rule 3-9(a) / Re-referred to Rules
1/11/2005	Senate	Session Sine Die

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