94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB4260

 

Introduced 12/16/2005, by Rep. Brent Hassert

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/15-7 new

    Amends the Property Tax Code. Provides that, beginning with the 2006 assessment year, if, in order to qualify for a property-tax exemption, the taxpayer must have an income that is at or below a certain amount, then, for the purposes of that exemption, the term "income" does not include any Social Security benefit unless expressly stated otherwise. Effective immediately.


LRB094 15374 BDD 50565 b

FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB4260 LRB094 15374 BDD 50565 b

1     AN ACT concerning revenue.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Property Tax Code is amended by adding
5 Section 15-7 as follows:
 
6     (35 ILCS 200/15-7 new)
7     Sec. 15-7. Income limits; Social Security. Beginning with
8 the 2006 assessment year, if, in order to qualify for an
9 exemption under this Article 15, the taxpayer must have an
10 income that is at or below a certain amount, then, for the
11 purposes of that exemption, the term "income" does not include
12 any Social Security benefit unless expressly stated otherwise.
 
13     Section 99. Effective date. This Act takes effect upon
14 becoming law.