# Illinois HB5550: TRUTH IN TAX-REVENUE RATE

Illinois HB5550, TRUTH IN TAX-REVENUE RATE, is a 104th General Assembly (2025–2026) House bill sponsored by Bradley Fritts (Republican); status in committee, last action 2026-05-07 (Added Co-Sponsor Rep. Travis Weaver) (as of 2026-11-01).

- Canonical: https://policyrisk.com/state-bill/IL-HB5550-2025-2026
- As of: 2026-11-01
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Illinois HB5550
- State: Illinois
- Session: 104th General Assembly (2025–2026)
- Title: TRUTH IN TAX-REVENUE RATE
- Status: in committee
- Chamber: House
- Introduced: 2026-02-06
- Last action: 2026-05-07, Added Co-Sponsor Rep. Travis Weaver
- Sponsor: Bradley Fritts (Republican)
- Cosponsors: 9
- Subjects: revenue & finance
- Touches household money: no
- Economic provisions PRIA read: 0

## 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.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Bradley Fritts (Republican), House
- Cosponsor: Brandun Schweizer (Republican), House
- Cosponsor: Jackie Haas (Republican), House
- Cosponsor: Jeff Keicher (Republican), House
- Cosponsor: Kevin Schmidt (Republican), House
- Cosponsor: Michael J. Coffey, Jr. (Republican), House
- Cosponsor: Patrick Sheehan (Republican), House
- Cosponsor: Ryan Spain (Republican), House
- Cosponsor: Tony M. McCombie (Republican), House
- Cosponsor: Travis Weaver (Republican), House

## Actions (14)

- 2026-05-07: Added Co-Sponsor Rep. Travis Weaver (House)
- 2026-05-05: Added Co-Sponsor Rep. Michael J. Coffey, Jr. (House)
- 2026-05-05: Added Co-Sponsor Rep. Jeff Keicher (House)
- 2026-05-05: Added Co-Sponsor Rep. Brandun Schweizer (House)
- 2026-05-04: Added Co-Sponsor Rep. Patrick Sheehan (House)
- 2026-05-04: Added Co-Sponsor Rep. Kevin Schmidt (House)
- 2026-05-04: Added Co-Sponsor Rep. Jackie Haas (House)
- 2026-04-29: Added Co-Sponsor Rep. Tony M. McCombie (House)
- 2026-04-29: Added Co-Sponsor Rep. Ryan Spain (House)
- 2026-03-27: Rule 19(a) / Re-referred to Rules Committee (House)
- 2026-03-18: Assigned to Revenue & Finance Committee (House)
- 2026-02-13: Referred to Rules Committee (House)
- 2026-02-13: First Reading (House)
- 2026-02-06: Filed with the Clerk by Rep. Bradley Fritts (House)

## Bill text

- Introduced: [PDF](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB5550.pdf)

## Related bills

- HB5198: AFFORDABLE HOUSING-CILAS (passed house)
- SB1937: PENSION CODE-VARIOUS (passed senate)
- HB2563: CONDO-RESERVE STUDY (in committee)
- HB4701: LIMITATIONS FACILITY FEES ACT (in committee)
- SB3008: DHS-ABLE PROGRAM INFO MATERIAL (passed senate)
- SB3484: VEH CD-PLATES-REGISTRATION (signed)

## Sources
- [Introduced (PDF)](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB5550.pdf)

## Related
- [HB5198: AFFORDABLE HOUSING-CILAS](https://policyrisk.com/state-bill/IL-HB5198-2025-2026)
- [SB1937: PENSION CODE-VARIOUS](https://policyrisk.com/state-bill/IL-SB1937-2025-2026)
- [HB2563: CONDO-RESERVE STUDY](https://policyrisk.com/state-bill/IL-HB2563-2025-2026)
- [HB4701: LIMITATIONS FACILITY FEES ACT](https://policyrisk.com/state-bill/IL-HB4701-2025-2026)
- [SB3008: DHS-ABLE PROGRAM INFO MATERIAL](https://policyrisk.com/state-bill/IL-SB3008-2025-2026)
- [SB3484: VEH CD-PLATES-REGISTRATION](https://policyrisk.com/state-bill/IL-SB3484-2025-2026)
- [Illinois bills](https://policyrisk.com/states/illinois/bills)
- [Illinois state hub](https://policyrisk.com/states/illinois)
- [All state legislation](https://policyrisk.com/state-bills)

Source: PRIA, https://policyrisk.com/state-bill/IL-HB5550-2025-2026 (as of 2026-11-01).