IllinoisHB1167104th General Assembly (2025–2026)House

PROP TX-SOUTH SUBURBAN CREDIT

Sponsored By: Thaddeus Jones (Democratic)

In Committee

Summary

Amends the Property Tax Code. Creates the South Suburban Property Tax Relief Homestead Exemption Pilot Program. Provides that, for taxable years 2026 through 2030, certain qualified homestead property that is used as the primary residence of an individual who has occupied the property for at least 5 continuous years as of January 1 of the taxable year is eligible for a credit against the property taxes imposed on that property. Provides that the amount of the credit is the lesser of (i) the property tax liability for the property for the applicable taxable year or (ii) $5,000. Contains provisions concerning applications for the pilot program. Provides that the Cook County Assessor may not award credits under the pilot program for more than 7,500 properties in any taxable year. Amends the State Finance Act. Creates the South Suburban Property Tax Relief Fund. Provides that moneys in the Fund shall be used to make reimbursements to taxing districts that are affected by the South Suburban Property Tax Relief Homestead Exemption Pilot Program. Makes changes to provisions concerning the Cannabis Regulation Fund to provide for transfers to the South Suburban Property Tax Relief Fund. Amends the Video Gaming Act to make conforming changes. Effective immediately.

revenue & finance

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Thaddeus Jones

    Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Rule 19(a) / Re-referred to Rules Committee

    3/27/2026House
  2. To Property Tax Subcommittee

    3/19/2026House
  3. Assigned to Revenue & Finance Committee

    3/12/2026House
  4. Rule 19(a) / Re-referred to Rules Committee

    3/21/2025House
  5. To Property Tax Subcommittee

    2/25/2025House
  6. Assigned to Revenue & Finance Committee

    2/11/2025House
  7. Referred to Rules Committee

    1/9/2025House
  8. First Reading

    1/9/2025House
  9. Prefiled with Clerk by Rep. Thaddeus Jones

    1/7/2025House

Bill Text

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