Illinois General Assembly - Bill Status for HB3899
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 Bill Status of HB3899  93rd General Assembly

Short Description:  PROP TAX-CATASTROPHE EXEMPTION

House Sponsors
Rep. Calvin L. Giles

Last Action
DateChamber Action
  1/11/2005HouseSession 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 
DateChamber Action
  11/6/2003HouseFiled with the Clerk by Rep. Calvin L. Giles
  11/6/2003HouseFirst Reading
  11/6/2003HouseReferred to Rules Committee
  1/11/2005HouseSession Sine Die

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