90th General Assembly
Summary of SB1075
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Short description: 
PROP TX-AUTOMATIC HMSTD EXEMPT                                             

Synopsis of Bill as introduced:
        Amends  the  Property  Tax  Code.   Deletes  current   provisions      
   concerning  the  application  and  approval  process for the homestead      
   exemption.  Provides that if, in counties with  fewer  than  3,000,000      
   inhabitants,  based  on  the  most  recent  assessment,  the equalized      
   assessed value of the homestead property for  the  current  assessment      
   year  is greater than the equalized assessed value of the property for      
   1977, the owner  of  the  property  shall  automatically  receive  the      
   exemption in the amount of the increase over the 1977 assessment up to      
   the maximum amount allowed.                                                 
          FISCAL NOTE (Dept. of Revenue)                                       
          SB 1075 has no direct fiscal impact on this Dept.                    
          STATE MANDATES FISCAL NOTE (DCCA)                                    
          SB1075 fails to create a State mandate.                              
Last action on Bill: PUBLIC ACT.............................. 90-0368

   Last action date: 97-08-10

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


 Full Text  Bill Status