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HB 1326 Illinois House · 104th Regular Session

PROP TX-5-YEAR HOMESTEAD

Summary
Amends the Property Tax Code. Creates a homestead exemption for certain property located in Cook County that has been used as a qualified taxpayer's principal dwelling place for at least 5 continuous years as of January 1 of the taxable year. Provides that the aggregate amount of property taxes levied against that property in any taxable year may not exceed $5,000. Effective immediately.
Issues: ✓ Budget & TaxesSupports Budget & TaxesCaps property taxes at $5,000 for qualifying homesteads, providing tax relief for homeowners as a direct fiscal benefit.95% confidence ✓ HousingSupports HousingCaps property taxes for long-term homeowners ($5,000 annual limit), reducing housing costs and promoting stability for existing residents in Cook County.95% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2025
Committee Review
Floor Vote
Governor
Introduced Jan 14, 2025 Last action Mar 21, 2025
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
6
Key actions
1
Committee
4
Mar 21, 2025
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
Feb 25, 2025
Lower · Passed
To Property Tax Subcommittee
lower
Feb 11, 2025
Committee
Assigned to Revenue & Finance Committee
lower
Jan 28, 2025
Committee
Referred to Rules Committee
lower
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Thaddeus Jones
Thaddeus Jones
DDemocratic
IL
29