HB2928 95TH GENERAL ASSEMBLY

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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB2928

Introduced 2/26/2007, by Rep. Tom Cross

SYNOPSIS AS INTRODUCED:

35 ILCS 250/5

Amends the Longtime Owner-Occupant Property Tax Relief Act. Makes a technical change in a Section concerning public policy.

A BILL FOR

AN ACT concerning revenue.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Longtime Owner-Occupant Property Tax Relief Act is amended by changing Section 5 as follows:

(35 ILCS 250/5)

Sec. 5. Public policy. In recognition of the the severe economic circumstances of certain longtime owner-occupants of residences who are faced with rising living costs and constantly increasing tax burdens in areas where real property values have risen markedly as a consequence of the renovation of other deteriorating residences or the construction of new residences, the General Assembly considers it to be a matter of sound public policy for counties having a population of 100,000 or more to adopt uniform special real property tax relief provisions in order to allow longtime owner-occupants of residences to remain in peaceful possession of their homes.

(Source: P.A. 88-451.)