90th General Assembly
Summary of SB1236
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Senate Sponsors:

Short description: 
PROP TX-SR CIT EXEMPT-MAX AMT                                              

Synopsis of Bill as introduced:
        Amends the Property Tax Code and the School Code.  Provides  that      
   beginning with taxable year 1998, the maximum reduction for the Senior      
   Citizens  Homestead  Exemption  shall  be  $2,500 in all counties (now      
   $2,500 in counties with 3,000,000 or more inhabitants  and  $2,000  in      
   all  other  counties).   Provides  that beginning in tax year 1999 and      
   thereafter, the amount of the reduction shall  be  subject  to  annual      
   adjustments  equal  to  the lesser of 5% or the percentage increase in      
   the previous calendar year in the Consumer Price Index for  All  Urban      
   Consumers  for  all items published by the United States Department of      
   Labor.  Effective immediately.                                              
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: Senate

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


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