Illinois General Assembly - Bill Status for SB0095

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Bill Status of SB0095 95th General Assembly

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Short Description: PROP TX-HOMESTEAD EXEMPT

Senate Sponsors
Sen. Larry K. Bomke

Last Action

Date	Chamber	Action
1/13/2009	Senate	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 200/15-173 new

30 ILCS 805/8.31 new

Synopsis As Introduced
Amends the Property Tax Code. Creates a homestead exemption for taxable years 2006, 2007, and 2008, for homestead property that, after the 2005 taxable year, is no longer assessed as farmland. Sets forth the amount of the exemption at 75% of the assessment increase in the 2006 taxable year, 50% of the assessment increase in the 2007 taxable year, and 25% of the increase in the 2008 taxable year. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Actions

Date	Chamber	Action
1/31/2007	Senate	Filed with Secretary by Sen. Larry K. Bomke
1/31/2007	Senate	First Reading
1/31/2007	Senate	Referred to Rules
1/13/2009	Senate	Session Sine Die

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