SB1725 - PROP TX-MIDDLE CLASS CREDIT
Illinois - 103rd General Assembly
Introduced byPatrick J. Joyce, Michael E. Hastings
Last updated over 1 year ago
2 Co-Sponsors
Amends the Property Tax Code. Creates a middle-class tax credit limited to a reduction in the equalized assessed value of homestead property owned by a middle-class taxpayer of 5% of the equalized assessed value of the property for the current assessment year. Provides that the maximum exemption is limited to $5,000. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
STATUS
Introduced
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