2025-2026 Regular Session • Illinois Legislature
HB3724: PROP TX-GENERAL HOMESTEAD
Legislative Summary
Amends the Property Tax Code. Provides that, beginning with the 2026 tax year (to be collected in 2027), the total tax bill for property receiving the General Homestead Exemption may not exceed 103% of the total property tax bill for the property for the immediately preceding taxable year. Contains provisions concerning the reallocation of property tax liability.
Demographic Impact
Overall analysis of equity impact
70% Positive
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Bill History
2/7/2025
Filed with the Clerk by Rep. Joe C. Sosnowski
House of Representatives
2/18/2025
First Reading
House of Representatives
2/18/2025
Referred to Rules Committee
House of Representatives
3/11/2025
Assigned to Revenue & Finance Committee
House of Representatives
3/13/2025
To Tax Policy: Other Taxes Subcommittee
House of Representatives
3/18/2025
Added Co-Sponsor Rep. Kevin Schmidt
House of Representatives
3/21/2025
Rule 19(a) / Re-referred to Rules Committee
House of Representatives
Status Information
Current Status
Introduced(2/7/2025)
Chamber
House of Representatives
Committee
Rules(House of Representatives)
