92nd General Assembly
Summary of SB1234
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Senate Sponsors:

House Sponsors:

Short description: 
CIVIL PROCEDURE-TECH                                                       

Synopsis of Bill as introduced:
        Amends the Code of Civil Procedure.  Makes technical  changes  in      
   the short title Section.                                                    
        SENATE AMENDMENT NO. 1.                                                
          Deletes reference to:                                                
          735 ILCS 5/1-101                                                     
          Adds reference to:                                                   
          735 ILCS 5/12-901                                                    
        Deletes everything. Amends the Code of Civil Procedure. Increases      
   the allowable amount of an estate of homestead from $7,500 to $30,000.      
        HOUSE AMENDMENT NO. 1.                                                 
        Increases the allowable amount  of  an  estate  of  homestead  to      
   $90,000.    Eliminates  a  provision concerning ownership of homestead      
   property by 2 or more individuals.  Adds an immediate  effective  date      
   to the bill.                                                                
          JUDICIAL NOTE, H-AM 1 (Administrative Office of Ill. Courts)         
          This bill would neither increase nor decrease the number of          
          judges needed in the State.                                          
          FISCAL NOTE, H-AM 1 (Administrative Office of Illinois Courts)       
          SB 1234 (H-am 1) would have no fiscal impact on the judicial         
          HOUSING AFFORDABILITY NOTE, H-AM 1                                   
          (Illinois Housing Development Authority)                             
          SB 1234 (H-am 1) would not directly increase or decrease the         
          cost of building, buying, or selling a single family property,       
          but would decrease the cost of owning such a residence. By           
          increasing the exemption allowable amount by $82,500 (from           
          $7,500 to $90,000) and by deleting the current provision             
          limiting the homestead allowable amount when 2 or more property      
          owners are involved, this should have the practical impact of        
          lowering property tax amounts for nearly all residential             
          property owners. However, it is not possible to quantify the         
          exact aggregate impact due to differing tax bases within             
          Illinois' 102 counties.                                              
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   1     SENATE -   1


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