HB5123 - 104th General Assembly (2025-2026)

INC TX-PROP TX CREDIT
Last Action
2/10/2026 - House: Referred to Rules Committee
House Sponsors
Rep. Steven Reick
Statutes Amended In Order of Appearance
35 ILCS 5/208  from Ch. 120, par. 2-208
Synopsis As Introduced
Amends the Illinois Income Tax Act. Provides that, if the amount of the credit for residential real property taxes exceeds the taxpayer's liability, that amount shall be refunded if the taxpayer is 65 years or older and has a federal adjusted gross income of not more than $50,000. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.
Actions
DateChamberAction
2/05/2026HouseFiled with the Clerk by Rep. Steven Reick
2/10/2026HouseFirst Reading
2/10/2026HouseReferred to Rules Committee