PROP TX-HOMESTEAD EXEMPTIONS Senate SponsorsSen. Terry Link 1/13/2009SenateSession Sine Die 35 ILCS 200/15-17635 ILCS 200/15-177Amends the Property Tax Code. In the alternative general homestead exemption, increases the maximum amount of the exemption to $40,000 for taxable years 2007 and thereafter. In the long-time occupant homestead exemption, deletes a provision that the property's base homestead value is increased by 10% for each taxable year after the base year for qualified taxpayers with a household income of more than $75,000 but not exceeding $100,000. Provides, instead, that the property's base homestead value is increased by 7% for each taxable year after the base year for qualified taxpayers with a household income of $100,000 or less. Effective immediately. 2/14/2008SenateFiled with Secretary by Sen. Terry Link 2/14/2008SenateFirst Reading 2/14/2008SenateReferred to Rules 2/27/2008SenateAssigned to Revenue 3/6/2008SenateHeld in Revenue 3/13/2008SenateTo Subcommittee 3/14/2008SenateRule 3-9(a) / Re-referred to Rules 1/13/2009SenateSession Sine Die