SB1765 Summary

• Removes the 3,000,000+ population requirement, making provisions for erroneous homestead exemptions apply to all Illinois counties instead of only large counties.

• Requires chief county assessment officers to include homestead exemption information, eligibility criteria, and penalty/interest details with assessment notices sent during general assessment years.

• Provides a 60-day grace period after receiving assessment notice for taxpayers to self-report erroneous homestead exemptions and pay principal plus interest without penalties.

• Authorizes liens against property for unpaid erroneous exemption amounts, with 10% annual interest for 1-2 exemptions or 50% penalty plus 10% interest for 3+ exemptions over specified collection year periods.

• Establishes hearing rights and appeal procedures to circuit court for taxpayers challenging erroneous exemption determinations.