PROP TAX-CATASTROPHE EXEMPTION Senate SponsorsSen. Iris Y. Martinez 1/11/2005SenateSession Sine Die 35 ILCS 200/15-180Amends 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. 11/4/2003SenateFiled with Secretary by Sen. Iris Y. Martinez 11/4/2003SenateFirst Reading 11/4/2003SenateReferred to Rules 2/4/2004SenateAssigned to Revenue 2/10/2004SenateTo Subcommittee 2/26/2004SenatePostponed - Revenue 2/27/2004SenateRule 3-9(a) / Re-referred to Rules 1/11/2005SenateSession Sine Die