IL HB0289

Increases the maximum Senior Citizens Homestead Exemption from $5,000 to $7,000 for taxable year 2017 in all Illinois counties.

Changes the exemption period for taxable years 2013-2016 from "and thereafter" to explicit end date of 2016, establishing a new baseline for 2017 forward.

Implements automatic annual adjustments for taxable years 2018 and beyond by indexing the maximum exemption to the Consumer Price Index for All Urban Consumers published by the U.S. Bureau of Labor Statistics.

Takes effect immediately upon becoming law.