HB2428 Summary

• Extends erroneous homestead exemption provisions from counties with 3,000,000+ inhabitants to all Illinois counties.

• Requires chief county assessment officers to include homestead exemption information, eligibility criteria, and penalties notice with each assessment notice during general assessment years.

• Establishes a 60-day grace period after receiving assessment notice for taxpayers to report erroneous exemptions and pay principal plus interest to avoid penalties.

• Authorizes county assessment officers to file liens against properties with erroneous exemptions; penalties are 10% interest for 1-2 exemptions or 50% penalty plus 10% interest for 3+ exemptions.

• Creates amnesty periods through December 31, 2017 in counties with fewer than 3,000,000 inhabitants for taxpayers to pay prior tax arrearages without penalties or prosecution.