Illinois HB 1192: INC TX-PROP TX CREDIT

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
HB1192

Introduced 1/9/2025, by Rep. Steven Reick 

SYNOPSIS AS INTRODUCED:

35 ILCS 5/208 from Ch. 120, par. 2-208

 Amends the Illinois Income Tax Act. Provides that, if the amount of the credit for residential real property taxes exceeds the taxpayer's liability, that amount shall be refunded if the taxpayer is 65 years or older and has a federal adjusted gross income of not more than $50,000. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.

LRB104 03366 HLH 13388 b

A BILL FOR

HB1192LRB104 03366 HLH 13388 b

1 AN ACT concerning revenue.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Illinois Income Tax Act is amended by 

5changing Section 208 as follows:

6 (35 ILCS 5/208) (from Ch. 120, par. 2-208)

7 Sec. 208. Tax credit for residential real property taxes. 

8Beginning with tax years ending on or after December 31, 1991, 

9every individual taxpayer shall be entitled to a tax credit 

10equal to 5% of real property taxes paid by such taxpayer during 

11the taxable year on the principal residence of the taxpayer. 

12In the case of multi-unit or multi-use structures and farm 

13dwellings, the taxes on the taxpayer's principal residence 

14shall be that portion of the total taxes which is attributable 

15to such principal residence. Notwithstanding any other 

16provision of law, for taxable years beginning on or after 

17January 1, 2017, no taxpayer may claim a credit under this 

18Section if the taxpayer's adjusted gross income for the 

19taxable year exceeds (i) $500,000, in the case of spouses