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IL SB3849
Bill
Status
Introduced
2/6/2026
Primary Sponsor
John Curran
Click for details
AI Summary
- Amends the Illinois Property Tax Code to adjust the general homestead exemption for inflation starting in taxable year 2027
- Maximum exemption reduction will increase annually by the percentage change in the Consumer Price Index (CPI) for the 12-month period ending September 30 of the prior year
- Current maximum reductions through 2026 remain unchanged: $10,000 in counties with 3+ million inhabitants (Cook County), $8,000 in contiguous counties, and $6,000 in all other counties
- CPI is defined as the Bureau of Labor Statistics measure of average price changes for all urban consumers, using the 1982-84 baseline
- Takes effect immediately upon becoming law
Legislative Description
PROP TX-GENERAL HOMESTEAD-CPI
Last Action
Rule 2-10 Committee Deadline Established As April 24, 2026
3/13/2026
Committee Referrals
Revenue2/24/2026
Assignments2/6/2026
Full Bill Text
No bill text available