HB 5432

  • Illinois House Bill
  • 101st Regular Session
  • Introduced in House
  • House
  • Senate
  • Governor

Prop Tx-First-Time Homebuyer

Abstract

Amends the Property Tax Code. Creates a first-time homebuyer homestead exemption. Provides that residential property valued at $75,000 or more that is owned and occupied by a first-time homebuyer is entitled to a reduction in the equalized assessed value of the property in the amount of $7,500. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Bill Sponsors (6)

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Actions


Jun 23, 2020

House

Rule 19(b) / Re-referred to Rules Committee

Mar 12, 2020

House

Assigned to Revenue & Finance Committee

Feb 18, 2020

House

First Reading

House

Referred to Rules Committee

Feb 14, 2020

House

Co-Sponsor Rep. Tom Weber

House

Filed with the Clerk by Rep. David A. Welter

House

Co-Sponsor Rep. Darren Bailey

House

Chief Co-Sponsor Rep. Grant Wehrli

House

Chief Co-Sponsor Rep. Amy Grant

House

Co-Sponsor Rep. Lindsay Parkhurst

Bill Text

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Sources

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