PROP TAX-EXEMPTIONS House SponsorsRep. Carole Pankau-Sidney H. Mathias-Paul D. Froehlich 1/11/2005HouseSession Sine Die 20 ILCS 620/6from Ch. 67 1/2, par. 100635 ILCS 200/14-1535 ILCS 200/15-1035 ILCS 200/15-17035 ILCS 200/15-17235 ILCS 200/15-17535 ILCS 200/15-17635 ILCS 200/20-17855 ILCS 85/6from Ch. 34, par. 700655 ILCS 90/45from Ch. 34, par. 804565 ILCS 5/11-74.4-8from Ch. 24, par. 11-74.4-865 ILCS 5/11-74.4-9from Ch. 24, par. 11-74.4-965 ILCS 5/11-74.6-4065 ILCS 110/45105 ILCS 5/18-8.05720 ILCS 5/17A-1from Ch. 38, par. 17A-130 ILCS 805/8.28 new Amends the Property Tax Code. Amends the Senior Citizens Homestead Exemption provisions to provide that, if a property has been granted a homestead exemption under these provisions, then the person qualifying need not reapply for the exemption. Increases the ceiling for household income eligibility for the Senior Citizens Assessment Freeze Homestead Exemption provisions, for taxable years 2003 and thereafter, from $40,000 per year to $45,000 per year and provides that the exemption amount shall be $2,500 in all counties (now, $2,500 in Cook County and $2,000 in all other counties). Provides that the exemption amount for the general homestead exemption shall be $4,500 in all counties (now, $4,500 in Cook County and $3,500 in all other counties). Creates a general homestead exemption provision that applies only to counties subject to the Property Tax Extension Limitation Law. Provides that the amount of the exemption is the equalized assessed value of the homestead property for the current tax year minus the adjusted homestead value. Defines "adjusted homestead value" as the lesser of (i) the property's base homestead value increased by 7% for each tax year after 2002 through and including the current tax year or (ii) the property's equalized assessed value for the current tax year minus $4,500. Provides that "base homestead value" means the equalized assessed value of the property for tax year 2002 prior to exemptions, minus $4,500. Establishes procedures for determining the base homestead value of property improved after the 2002 tax year. Sunsets the provisions after the 2010 assessment year. Amends the Economic Development Area Tax Increment Allocation Act, the County Economic Development Project Area Property Tax Allocation Act, the County Economic Development Project Area Tax Increment Allocation Act of 1991, the Economic Development Project Area Tax Increment Allocation Act of 1995, the Tax Increment Allocation Redevelopment Act and the Industrial Jobs Recovery Law in the Illinois Municipal Code, the School Code, and the Criminal Code of 1961 to include a cross reference to the new general homestead exemption provision in the Property Tax Code. Amends the State Mandates Act to require implementation without reimbursement for the new general homestead exemption and the Senior Citizens Assessment Freeze Homestead Exemption. Effective immediately. 1/15/2004HouseFiled with the Clerk by Rep. Carole Pankau 1/15/2004HouseFirst Reading 1/15/2004HouseReferred to Rules Committee 2/9/2004HouseAdded Chief Co-Sponsor Rep. Sidney H. Mathias 2/19/2004HouseAdded Chief Co-Sponsor Rep. Paul D. Froehlich 1/11/2005HouseSession Sine Die