SB 1725

  • Illinois Senate Bill
  • 103rd Regular Session
  • Introduced in Senate
  • Senate
  • House
  • Governor

Prop Tx-Middle Class Credit

Abstract

Amends the Property Tax Code. Creates a middle-class tax credit limited to a reduction in the equalized assessed value of homestead property owned by a middle-class taxpayer of 5% of the equalized assessed value of the property for the current assessment year. Provides that the maximum exemption is limited to $5,000. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Bill Sponsors (2)

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Mar 10, 2023

House

Rule 3-9(a) / Re-referred to Assignments

Feb 21, 2023

House

Assigned to Revenue

Feb 15, 2023

House

Added as Co-Sponsor Sen. Michael E. Hastings

Feb 09, 2023

House

Filed with Secretary by Sen. Patrick J. Joyce

House

First Reading

House

Referred to Assignments

Bill Text

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