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IL SB0039
Bill
AI Summary
- Creates the Illinois Property Tax Relief Fund as a special fund in the State treasury beginning in State fiscal year 2021
- County assessment officers must certify the total number of general homestead exemptions granted in their county to the State Comptroller within 30 days after the homestead exemption application period ends
- Property tax rebate amount is calculated by dividing total appropriated funds by the total number of homestead exemptions granted statewide
- County treasurers must reduce property tax bills for homestead properties by the rebate amount and include a separate line item showing the rebate from the Illinois Property Tax Relief Fund
- State Comptroller distributes funds to each county within 60 days, with county allocation based on the rebate amount multiplied by the number of homestead exemptions granted in that county
Legislative Description
PROP TX-POLICE AND FIRE
Last Action
Public Act . . . . . . . . . 101-0077
7/12/2019
Committee Referrals
Revenue & Finance5/24/2019
Rules5/10/2019
Property Tax5/9/2019
Revenue & Finance4/9/2019
Rules3/21/2019
Executive1/23/2019
Assignments1/10/2019
Full Bill Text
No bill text available