IllinoisHB5550104th General Assembly (2025–2026)House

TRUTH IN TAX-REVENUE RATE

Sponsored By: Bradley Fritts (Republican)

In Committee

Summary

Amends the Truth in Taxation Law in the Property Tax Code. Provides that the notice and hearing requirements apply if the taxing district proposes to extend a tax rate against all taxable property in the district that exceeds the revenue neutral rate. Provides that the term "revenue neutral rate" means an aggregate tax rate for the taxing district that would generate the same amount of property tax revenue as was levied by the taxing district in the previous tax year using the current tax year's total assessed valuation of all property in the taxing district. Makes changes concerning notice provisions.

revenue & finance

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Bradley Fritts

    Republican • House

Cosponsors

  • Brandun Schweizer

    Republican • House

  • Jackie Haas

    Republican • House

  • Jeff Keicher

    Republican • House

  • Kevin Schmidt

    Republican • House

  • Michael J. Coffey, Jr.

    Republican • House

  • Patrick Sheehan

    Republican • House

  • Ryan Spain

    Republican • House

  • Tony M. McCombie

    Republican • House

  • Travis Weaver

    Republican • House

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Added Co-Sponsor Rep. Travis Weaver

    5/7/2026House
  2. Added Co-Sponsor Rep. Michael J. Coffey, Jr.

    5/5/2026House
  3. Added Co-Sponsor Rep. Jeff Keicher

    5/5/2026House
  4. Added Co-Sponsor Rep. Brandun Schweizer

    5/5/2026House
  5. Added Co-Sponsor Rep. Patrick Sheehan

    5/4/2026House
  6. Added Co-Sponsor Rep. Kevin Schmidt

    5/4/2026House
  7. Added Co-Sponsor Rep. Jackie Haas

    5/4/2026House
  8. Added Co-Sponsor Rep. Tony M. McCombie

    4/29/2026House
  9. Added Co-Sponsor Rep. Ryan Spain

    4/29/2026House
  10. Rule 19(a) / Re-referred to Rules Committee

    3/27/2026House
  11. Assigned to Revenue & Finance Committee

    3/18/2026House
  12. Referred to Rules Committee

    2/13/2026House
  13. First Reading

    2/13/2026House
  14. Filed with the Clerk by Rep. Bradley Fritts

    2/6/2026House

Bill Text

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