IllinoisSB0642104th General Assembly (2025–2026)SenateWALLET

LOCAL GOVERNMENT-TECH

Sponsored By: Lakesia Collins (Democratic)

Became Law

assignmentsexecutiverevenue & finance

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Bill Overview

Analyzed Economic Effects

4 provisions identified: 2 benefits, 0 costs, 2 mixed.

Lower late interest in Cook County

In counties with 3,000,000+ people that use accelerated billing, late interest is lower for recent years. Unpaid taxes from years before 2023 accrue 1.5% per month. Unpaid taxes for 2023 and later accrue 0.75% per month. The second installment after August 1 uses the same rates.

More property tax relief for seniors

The law expands senior property tax help. Seniors 65+ who own their home can get the assessment freeze if household income is $65,000 for 2018–2025, $75,000 in 2026, $77,000 in 2027, and $79,000 in 2028 and after. For the Senior Tax Deferral, the income cap is $65,000 in 2022–2024, $75,000 in 2025, $77,000 in 2026, and $79,000 in 2027 and after. You must be 65 by June 1 and generally own and live in the home for at least 3 years. The most you can defer is $5,000 per year ($7,500 for tax years 2022–2025). Deferred taxes accrue 6% yearly interest for years before 2023 and 3% for 2023 and later.

Longer redemption and payment plans

For tax certificates issued on or after January 1, 2024, counties can extend the redemption deadline to match the tax‑deed petition. A county may file a notice to extend it further. County clerks can set payment plans during redemption and waive interest penalties when you pay as agreed. Assignees must give notice within 60 days, and any extended deadline they set cannot go beyond 3 years from the sale or assignment.

New limits and extensions for TIFs

The law sets how long tax‑increment financing (TIF) can run and when it must end. For areas approved on or after January 15, 1981, the cap is the year tied to taxes in the 23rd calendar year after adoption. In transit facility improvement areas, the cap is the 35th year. Some areas can extend to 35 years if they meet bond thresholds and the city gives 14–30 days’ written notice before passing an ordinance. A list of specific areas can extend to as long as 47 years with notice and a local ordinance; usual early termination does not apply before year 47. For Wheeling (1985), Downs (1999), and Lawrenceville (1989), the law sets area‑specific deadlines tied to the 33rd, 32nd, and 28th year. If a new transit‑area TIF overlaps an older pre‑2016 TIF, the older rules apply until the city dissolves the old fund. The law also recognizes a past extension to December 31, 2013 for certain legacy areas.

Sponsors & Cosponsors

Sponsor

Lakesia Collins
Democratic • Senate

Cosponsors

Aarón M. Ortíz
Democratic • House
Abdelnasser Rashid
Democratic • House
Andrew S. Chesney
Republican • Senate
Barbara Hernandez
Democratic • House
Chris Balkema
Republican • Senate
Craig Wilcox
Republican • Senate
Curtis J. Tarver, II
Democratic • House
Dagmara Avelar
Democratic • House
Dave Vella
Democratic • House
Donald P. DeWitte
Republican • Senate
Erica Harriss
Republican • Senate
Jaime M. Andrade, Jr.
Democratic • House
Kelly M. Cassidy
Democratic • House
Lisa Davis
Democratic • House
Margaret A. DeLaRosa
Democratic • House
Martha Deuter
Democratic • House
Mary Beth Canty
Democratic • House
Mary Gill
Democratic • House
Matt Hanson
Democratic • House
Michael Crawford
Democratic • House
Michael J. Kelly
Democratic • House
Michelle Mussman
Democratic • House
Nabeela Syed
Democratic • House
Natalie A. Manley
Democratic • House
Nicolle Grasse
Democratic • House
Robert "Bob" Rita
Democratic • House
Robert Peters
Democratic • Senate
Seth Lewis
Republican • Senate
Tracy Katz Muhl
Democratic • House

Roll Call Votes

All Roll Calls

Yes: 334 • No: 45

House vote • 10/31/2025

Third Reading - Short Debate - Passed

Yes: 99 • No: 0

Senate vote • 10/31/2025

House Floor Amendment No. 2 Senate Concurs

Yes: 59 • No: 0

House vote • 10/30/2025

House Floor Amendment No. 1 Recommends Be Adopted Revenue & Finance Committee;

Yes: 17 • No: 0

House vote • 10/30/2025

House Floor Amendment No. 2 Recommends Be Adopted Rules Committee;

Yes: 3 • No: 2

House vote • 10/28/2025

Motion to Suspend Rule 21 - Prevailed

Yes: 76 • No: 38

House vote • 10/28/2025

Do Pass / Short Debate Revenue & Finance Committee;

Yes: 13 • No: 0

Senate vote • 10/15/2025

Senate Floor Amendment No. 1 Recommend Do Adopt Executive;

Yes: 11 • No: 0

Senate vote • 10/15/2025

Third Reading - Passed;

Yes: 45 • No: 5

Senate vote • 3/19/2025

Do Pass Executive;