98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB1229

 

Introduced , by Rep. Patrick J. Verschoore

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/15-190 new

    Amends the Property Tax Code. Provides that each parcel of property that qualifies for a homestead exemption under the Code shall have a minimum equalized assessed value of $1,000 after each applicable homestead exemption is applied to the property. Effective immediately.


LRB098 03368 HLH 33383 b

FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB1229LRB098 03368 HLH 33383 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Property Tax Code is amended by adding
5Section 15-190 as follows:
 
6    (35 ILCS 200/15-190 new)
7    Sec. 15-190. Minimum equalized assessed valuation.
8Notwithstanding any other provision of law, beginning in
9taxable year 2013, each parcel of property that qualifies for a
10homestead exemption provided under this Article 15 shall have a
11minimum equalized assessed value of $1,000 after each
12applicable homestead exemption is applied to the property.
 
13    Section 99. Effective date. This Act takes effect upon
14becoming law.