BROWN. 30 ILCS 105/5.449 new 30 ILCS 105/6z-45 new 35 ILCS 200/18-162 new Amends the Property Tax Code. Provides that the county clerk shall abate the tax extended for educational purposes on property that (i) is owned by an individual 68 years of age or older and (ii) qualifies for the General Homestead Exemption under the Code. Provides that the taxes shall be abated on a prorata basis. Provides that the aggregate abatement shall be in an amount equal to the balance in the Senior Citizens Property Tax Reduction Fund or an amount to abate 100% of the taxes levied for educational purposes on eligible properties, whichever is less. Provides that the county clerk shall annually transfer an amount equal to the amount of the abatement in the school district to that school district. Requires the State Comptroller to annually determine the State revenue surplus for the preceding fiscal year by subtracting expenditures out of the General Revenue Fund from receipts into that Fund during the preceding fiscal year. Provides that an amount equal to the revenue surplus for the preceding fiscal year shall be deposited into the Senior Citizens Property Tax Reduction Fund for the abatement. Provides that any surplus in the Fund after distribution to the county collectors shall be transferred to the General Revenue Fund. Amends the State Finance Act to create the Senior Citizens Property Tax Reduction Fund. Makes other changes. Effective immediately. 98-01-05 H FILED WITH CLERK 98-01-06 H FIRST READING 98-01-06 H REFERRED TO HOUSE RULES COMMITTEE RULES 98-03-11 H ASSIGNED TO COMMITTEE REVENUE 98-03-20 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL 98-04-30 H MOTION FILED EXTEND COMMITTEE 98-04-30 H AND 3RD READING 98-04-30 H DEADLINE UNTIL 98-04-30 H MAY 22, 1998/CROSS 98-04-30 H CHAIR RULES MOTIN OUT OF ORDER 98-04-30 H APPEAL RULING OF CHAIR CROSS 98-04-30 H SHALL THE CHAIR BE SUSTAINED 98-04-30 H MOTION PREVAILED/CHAIR SUSTAINED 060-057-000 98-04-30 H COMMITTEE RULES 99-01-12 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary