IL HB3399

Increases the maximum income limitation for the low-income senior citizens assessment freeze homestead exemption from $65,000 to $75,000 for taxable year 2024.

Beginning in taxable year 2025, the maximum income limitation shall increase annually by the percentage increase, if any, in the Consumer Price Index-u for the 12-month period ending in September of the preceding calendar year.

Adds definition of "Consumer Price Index-u" as the index published by the Bureau of Labor Statistics measuring average price changes for goods and services purchased by all urban consumers.

Maintains all existing eligibility requirements and application procedures for the homestead exemption program.

Takes effect immediately upon becoming law.