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Bill

Bill

HB 2640

Relating to crime.

2025 Regular Session

Illinois bill raises the Low-Income Senior Citizens Assessment Freeze income cap to $75,000 for 2026 and later, letting more seniors freeze home value and curb property taxes.

In committee upon adjournment.
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WeVote Research Nonpartisan
Bill Summary · HB 2640

Summary — HB 2640 (labeled “PROP TX — SENIOR FREEZE”)

Note: The packet provided includes two different bills filed as “HB 2640” in different states. This summary focuses on the Illinois bill titled “Low‑Income Senior Citizens Assessment Freeze Homestead Exemption” (35 ILCS 200/15‑172) — matching the title “PROP TX‑SENIOR FREEZE.” A separate Arizona HB 2640 concerning school leases is included in the documents; a brief note on that bill appears at the end.

Purpose / Intent

Amend the Illinois Property Tax Code to increase the maximum household income threshold for the Low‑Income Senior Citizens Assessment Freeze Homestead Exemption, thereby expanding eligibility for the program that freezes the assessed value of eligible seniors’ homes.

Key provisions

  • Amends 35 ILCS 200/15‑172 (Low‑Income Senior Citizens Assessment Freeze Homestead Exemption).
  • Changes the statutory schedule for the “maximum income limitation” so that:
    • For taxable years 2026 and thereafter the maximum household income limit is $75,000 (previously set at $65,000 for 2018–2025).
  • Retains existing program mechanics and definitions (applicant, base year, household income, residence, etc.) and the alternative presumption of eligibility for applicants enrolled in certain means‑tested programs (e.g., SNAP, LIHEAP, Benefit Access).
  • Effective immediately (per bill text).

Who is affected

  • Senior homeowners (or qualifying senior leaseholders) age 65+ whose household income falls at or below the revised $75,000 cap would become eligible to apply for the assessment‑freeze exemption beginning for taxable year 2026.
  • County assessment officers will continue to administer eligibility; local taxing districts and municipalities may experience changes in taxable assessed value and local property tax revenues depending on uptake.

Potential impacts

  • Eligibility Expansion: More seniors would qualify, particularly those with household incomes between $65,000 and $75,000.
  • Tax Impact for Beneficiaries: Qualified seniors would have their equalized assessed value “frozen” (preventing increases in assessed value subject to property tax) which can lower or slow growth of their property tax burden.
  • Fiscal Impact: Increased enrollment in the exemption likely reduces taxable base for local taxing districts and could produce downward pressure on property tax collections or shift burdens among taxpayers. No fiscal note or revenue estimate is included in the provided text.

Procedural / Timeline status (from provided materials)

  • Introduced in Illinois legislature: 2/6/2025 by Rep. Martin McLaughlin (document also indicates filing 2/4/2025 with Clerk; user-provided metadata lists Feb 11, 2025).
  • Referred to Rules Committee; assigned to Tax Policy: Other Taxes Subcommittee and Revenue & Finance Committee in the House (per provided actions).
  • Sponsor(s): Martin McLaughlin (primary), Kevin Schmidt (co‑sponsor listed in the packet).

Note on other included material

  • The packet also contains an unrelated Arizona HB 2640 (Rep. Gress) that would amend A.R.S. §15‑119 regarding school district leases, rights of charter schools, and public‑hearing requirements before nonrenewal/termination of school leases. That is a separate bill and jurisdiction; the summary above addresses the Illinois “senior freeze” measure.

If you want, I can:
- Draft a short fiscal/revenue estimate scenario for Illinois based on enrollment assumptions; or
- Prepare a concise summary of the Arizona HB 2640 (school leases) included in the packet.

Compiled from official sources — confirm details with the bill’s official record.

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