Illinois General Assembly - Bill Status for HB3824
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 Bill Status of HB3824  99th General Assembly

Short Description:  PROP TX-REFUND

House Sponsors
Rep. John Bradley - Michael J. Madigan - Jack D. Franks - Litesa E. Wallace, Martin J. Moylan, Lawrence Walsh, Jr., Brandon W. Phelps, Sam Yingling, Silvana Tabares, Kathleen Willis, Deb Conroy, Daniel V. Beiser, Camille Y. Lilly and Sue Scherer

Last Action
DateChamber Action
  1/10/2017HouseSession Sine Die

Statutes Amended In Order of Appearance
New Act
35 ILCS 5/208from Ch. 120, par. 2-208
30 ILCS 105/5.866 new
30 ILCS 105/6z-101 new

Synopsis As Introduced
Creates the Property Tax Refund Act. Provides that the Department of Revenue shall issue a property tax refund of $500 each year for each parcel of qualified property for which an eligible homeowner paid property taxes. Contains provisions concerning applications. Provides that the Department may request certain information from each county assessor or supervisor of assessments. Provides that, if a county fails to submit the required information, the Department shall not certify to the State Comptroller the amount of the Local Government Distributive Fund allocated to that county until that information is submitted. Provides for implementation without reimbursement by the State. Amends the Illinois Income Tax Act to provide that the tax credit for residential real property taxes applies only for taxable years ending prior to December 31, 2015. Effective immediately.

 Fiscal Note (Dept. of Revenue)
 To estimate the cost the Department added to the estimate the number of senior homeowners who did not file an income tax return and the number of homeowners under the age of 65 who did not file an income tax return. Not all non-filers are homeowners. The Department estimated that between 40 percent and 70 percent of non-filers are also homeowners. The Department also added back the number of income tax filers that paid property tax but did not claim the property tax credit. This gives a potential range of refund claims between 2,634,360 and 2,851,638. The total cost of the credits is each end of the range multiplied by the $500 refund. The total cost estimate is between $1,317,000,000 and $1,430,000,000. To calculate the marginal cost of the refund we must back out to cost of the current credit leaving us with a marginal (or budgetary) cost of between $760 million and $873 million. The theoretical maximum cost of the credit can be arrived at by taking the total number of homestead exemptions multiplied $500 by less than the current credit cost (3,185,765 * 500) - 556,000,000 = $1,036,333,660. The final annual cost range is between $760 million and $1.036 billion.

DateChamber Action
  2/27/2015HouseFiled with the Clerk by Rep. John Bradley
  2/27/2015HouseFirst Reading
  2/27/2015HouseReferred to Rules Committee
  3/4/2015HouseAdded Co-Sponsor Rep. Martin J. Moylan
  3/4/2015HouseAdded Co-Sponsor Rep. Lawrence Walsh, Jr.
  3/4/2015HouseAdded Co-Sponsor Rep. Brandon W. Phelps
  3/6/2015HouseAdded Co-Sponsor Rep. Sam Yingling
  3/6/2015HouseAdded Co-Sponsor Rep. Silvana Tabares
  3/6/2015HouseAdded Co-Sponsor Rep. Kathleen Willis
  3/12/2015HouseAssigned to Revenue & Finance Committee
  3/12/2015HouseAdded Co-Sponsor Rep. Deb Conroy
  3/13/2015HouseTo Property Tax Subcommittee
  3/19/2015HouseRecommends Do Pass Subcommittee/ Revenue & Finance Committee; 004-002-000
  3/19/2015HouseRemains in Revenue & Finance Committee
  3/19/2015HouseDo Pass / Short Debate Revenue & Finance Committee; 008-005-000
  3/19/2015HousePlaced on Calendar 2nd Reading - Short Debate
  3/26/2015HouseAdded Chief Co-Sponsor Rep. Litesa E. Wallace
  3/31/2015HouseAdded Co-Sponsor Rep. Daniel V. Beiser
  4/7/2015HouseAdded Co-Sponsor Rep. Camille Y. Lilly
  4/9/2015HouseAdded Chief Co-Sponsor Rep. Jack D. Franks
  4/13/2015HouseAdded Chief Co-Sponsor Rep. Michael J. Madigan
  4/14/2015HouseSecond Reading - Short Debate
  4/14/2015HouseHeld on Calendar Order of Second Reading - Short Debate
  4/14/2015HouseFiscal Note Requested by Rep. Ron Sandack
  4/20/2015HouseFiscal Note Filed (Revised)
  4/24/2015HouseRule 19(a) / Re-referred to Rules Committee
  6/4/2015HouseAdded Co-Sponsor Rep. Sue Scherer
  1/10/2017HouseSession Sine Die

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