Illinois SB 3872: $PPB-OCE
Status: Referred to Assignments (as of 2024-02-28)
State: Illinois · Session: 103rd · Bill: SB 3872
Sponsors: Elgie R. Sims, Jr.
Bill Text
• Illinois General Assembly - Full Text of SB3872 • • • • • • • • • • • • Select Language × The Illinois General Assembly offers the Google Translate™ service for visitor convenience. In no way should it be considered accurate as to the translation of any content herein. Visitors of the Illinois General Assembly website are encouraged to use other translation services available on the internet. The English language version is always the official and authoritative version of this website. NOTE: To return to the original English language version, select the "Show Original" button on the Google Translate™ menu bar at the top of the window. Choose Language English Afrikaans Albanian Arabic Armenian Azerbaijani Basque Bengali Bosnian Catalan Croatian Czech Danish Dutch Esperanto Estonian Filipino Finnish French Galician Georgian German Greek Gujarati Haitian Creole Hausa Hawaiian Hebrew Hindi Hungarian Icelandic Indonesian Interlingua Interlingue Inuktitut Irish Italian Japanese Javanese Kannada Khmer Korean Latin Latvian Lithuanian Luxembourgish Macedonian Malagasy Malayalam Maltese Maori Marathi Myanmar Nepali Norwegian Odia Pashto Punjabi Romanian Russian Samoan Sango Sanskrit Sardinian Sindhi Sinhala Slovak Slovenian Somali Southern Sotho Spanish Sundanese Swahili Swedish Tamil Telugu Thai Tigrinya Tonga Turkish Ukrainian Urdu Vietnamese Welsh Xhosa Yiddish Yoruba Zulu Powered by Translate Close Illinois General Assembly Top Navigation Bar Translate Learn Select General Assembly Search the 104th General Assembly Enter search terms for legislation, members, committees, or schedules. ILGA.GOV • • LEGISLATION & LAWS • Bills & Resolutions • Public Acts • Illinois Compiled Statutes • Illinois Constitution • Search Legislation • Glossary • Guide • Reports & Inquiry • Legislative Reports • Special Reports • FTP Site • Legislator Lookup • Capitol Complex Phone Numbers • Rules & Regulations • Illinois Register • Administrative Rules • Senate • Members • Schedules • Committees • Request for Remote Testimony • Journals • Transcripts • Rules • Audio/Video • FOIA Information • Senate Employment Opportunities • Media Guidelines • House • Members • Schedules • Committees • Submit testimony for House Committees • Journals • Transcripts • Rules • Audio/Video • FOIA Information • House Employment Opportunities • Log In Mobile Top Bar Search the 104th General Assembly Enter keywords to search the Illinois General Assembly website. Full Text of SB3872 • Home • Legislation • Full Text SB3872 - 104th General Assembly • Bill Status • Full Text • Votes • Witness Slips Select Menu Bill Status Full Text Votes Witness Slips Printer Friendly Version Introduced Printer Friendly Version Introduced Open PDF 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB3872 Introduced 2/6/2026, by Sen. Craig Wilcox SYNOPSIS AS INTRODUCED: 35 ILCS 200/15-171 new Amends the Property Tax Code. Creates the free and clear senior homestead exemption. Provides that certain homestead property that is owned and used a primary residence by a person who is 75 years of age or older and whose income does not exceed a specified income limitation is exempt from taxation under the Code. LRB104 20188 HLH 33639 b A BILL FOR SB3872LRB104 20188 HLH 33639 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 Property Tax Code is amended by adding 5Section 15-171 as follows: 6 (35 ILCS 200/15-171 new) 7 Sec. 15-171. Free and clear senior homestead exemption. 8 (a) Beginning in taxable year 2027, qualified senior 9homestead property is exempt from taxation under the 10provisions of this Code. 11 (b) For land improved with an apartment building owned and 12operated as a cooperative, the maximum reduction from the 13value of the property, as equalized by the Department, shall 14be multiplied by the number of apartments or units occupied by 15a qualified senior citizen. For land improved with a life care 16facility, the maximum reduction from the value of the 17property, as equalized by the Department, shall be multiplied 18by the number of apartments or units occupied by a qualified 19senior citizen. In a cooperative or a life care facility where 20a homestead exemption has been granted, the cooperative 21association or the management firm of the cooperative or 22facility shall credit the savings resulting from that 23exemption o
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