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HB 2424 Illinois House · 104th Regular Session

PROP TX-HOMESTEAD

Summary
Amends the Property Tax Code. Provides that, for the purpose of eligibility for the general homestead exemption, "homestead property" also includes property that is used by a person as his or her principal dwelling place and on which the person is liable for the payment of property taxes under a lease-to-purchase or a lease-option contract.
Issues: ✓ Budget & TaxesSupports Budget & TaxesExpands homestead exemption to lease-to-purchase contracts, providing property tax relief to qualifying residents under Property Tax Code90% confidence ✓ HousingSupports HousingExpands homestead tax exemption to lease-to-purchase/lease-option contracts, reducing property tax burden for potential homeowners and advancing housing affordability.85% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Feb 2025
Committee Review
Floor Vote
Governor
Introduced Feb 3, 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
Mar 3, 2025
Lower · Passed
To Property Tax Subcommittee
lower
Feb 25, 2025
Committee
Assigned to Revenue & Finance Committee
lower
Feb 4, 2025
Committee
Referred to Rules Committee
lower
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Rita Mayfield
Rita Mayfield
DDemocratic
IL
60