Illinois HB 1326: PROP TX-5-YEAR HOMESTEAD
Status: Rule 19(a) / Re-referred to Rules Committee (as of 2025-03-21)
State: Illinois · Session: 104th · Bill: HB 1326
Sponsors: Thaddeus Jones
Bill Text
• Illinois General Assembly - Full Text of HB1326 • • • • • • • • • • • • 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 HB1326 • Home • Legislation • Full Text HB1326 - 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 HB1326 Introduced 1/28/2025, by Rep. Thaddeus Jones SYNOPSIS AS INTRODUCED: 35 ILCS 200/15-177.1 new 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. LRB104 06554 HLH 16590 b A BILL FOR HB1326LRB104 06554 HLH 16590 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 15-177.1 as follows: 6 (35 ILCS 200/15-177.1 new) 7 Sec. 15-177.1. The 5-year property homestead exemption. 8 (a) Notwithstanding any other provision of law, for 9taxable year 2026 and each taxable year thereafter, in Cook 10County, the aggregate amount of property taxes levied against 11any parcel of qualified homestead property in any taxable year 12may not exceed $5,000. The property taxes collected for the 13qualified homestead property shall be distributed to the 14taxing districts in which the property is located according to 15each taxing district's proportionate share of the qualified 16homestead property's aggregate liability. 17 (b) To receive the exemption under this Section, the 18qualified taxpayer must submit an application to the county 19assessor during the application period specified by the county 20assessor. The applications shall be clearly marked as 21applications for the 5-year
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