IL HB3462

Amends the Senior Citizens and Persons with Disabilities Property Tax Relief Act by establishing new income eligibility limits for the program in three tiers based on household size and claim year.

Sets income limits for 2008-2019 claims at $22,218 (one person), $29,480 (two persons), and $36,740 (three or more persons).

Increases income limits for 2020-2023 claims to $33,562 (one person), $44,533 (two persons), and $55,500 (three or more persons).

Further increases income limits for 2024 and thereafter to $43,562 (one person), $54,533 (two persons), and $65,500 (three or more persons).

Authorizes the Department on Aging to adjust income limits annually starting January 1, 2011 to reflect cost of living adjustments in Social Security and Supplemental Security Income benefits.