IL HB5432 | 2019-2020 | 101st General Assembly
Status
Spectrum: Partisan Bill (Republican 6-0)
Status: Introduced on February 14 2020 - 25% progression, died in committee
Action: 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 14 2020 - 25% progression, died in committee
Action: 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Property Tax Code. Creates a first-time homebuyer homestead exemption. Provides that residential property valued at $75,000 or more that is owned and occupied by a first-time homebuyer is entitled to a reduction in the equalized assessed value of the property in the amount of $7,500. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Title
PROP TX-FIRST-TIME HOMEBUYER
Sponsors
| Rep. David Welter [R] | Rep. Grant Wehrli [R] | Rep. Amy Grant [R] | Rep. Lindsay Parkhurst [R] |
| Rep. Tom Weber [R] | Sen. Darren Bailey [R] |
History
| Date | Chamber | Action |
|---|---|---|
| 2020-06-23 | House | Rule 19(b) / Re-referred to Rules Committee |
| 2020-03-12 | House | Assigned to Revenue & Finance Committee |
| 2020-02-18 | House | Referred to Rules Committee |
| 2020-02-18 | House | First Reading |
| 2020-02-14 | House | Co-Sponsor Rep. Darren Bailey |
| 2020-02-14 | House | Co-Sponsor Rep. Tom Weber |
| 2020-02-14 | House | Co-Sponsor Rep. Lindsay Parkhurst |
| 2020-02-14 | House | Chief Co-Sponsor Rep. Amy Grant |
| 2020-02-14 | House | Chief Co-Sponsor Rep. Grant Wehrli |
| 2020-02-14 | House | Filed with the Clerk by Rep. David A. Welter |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 30 | 805 | 8.44 | New Code | See Bill Text |
| 35 | 200 | 15-179 | New Code | See Bill Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=5432&GAID=15&DocTypeID=HB&SessionID=108&GA=101 |
| Text | https://www.ilga.gov/legislation/101/HB/10100HB5432.htm |
