Illinois · Senate Bill 2695 · 103rd General Assembly

PROPERTY TAX-ASSESSMENT CAP

SB 2695 Sponsored by Julie A. Morrison Died in committee

  1. Introduced Jan 10, 2024
  2. In committee Jan 10, 2024
  3. Died  
  4. Passed the House  
  5. To the governor  
  6. Became law  

What it does

The legislature's own summary of the bill, or its official long title.

Amends the Property Tax Code. Provides that, for assessment years following the next general assessment after the effective date of the amendatory Act, no increase in assessment may exceed 20% per year. Provides exceptions if: (1) the property is sold, transferred, or conveyed during the taxable year; (2) significant improvements were made to the property; (3) a homestead exemption or other preferential method of…

Read the full title (97 words)

Amends the Property Tax Code. Provides that, for assessment years following the next general assessment after the effective date of the amendatory Act, no increase in assessment may exceed 20% per year. Provides exceptions if: (1) the property is sold, transferred, or conveyed during the taxable year; (2) significant improvements were made to the property; (3) a homestead exemption or other preferential method of assessment was removed with respect to that property during the taxable year; or (4) the increase was due to an equalization factor imposed by the township, county, or Department of Revenue. Effective immediately.

Every action

12 steps, oldest first, as the legislature records them.

  1. SenateFiled with Secretary by Sen. Julie A. Morrison
  2. SenateFirst Reading
  3. CommitteeReferred to Assignments · Senate Assignments
  4. CommitteeAssigned to Revenue · Senate Revenue
  5. SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Julie A. Morrison
  6. CommitteeSenate Committee Amendment No. 1 Referred to Assignments · Senate Assignments
  7. CommitteeSenate Committee Amendment No. 1 Assignments Refers to Revenue · Senate Assignments
  8. SenateRule 2-10 Committee Deadline Established As April 5, 2024
  9. SenateRule 2-10 Committee Deadline Established As May 3, 2024
  10. CommitteeRule 3-9(a) / Re-referred to Assignments · Senate Assignments
  11. CommitteeSenate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments · Senate Assignments
  12. SenateSession Sine Die

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it.

From Illinois's official records (www.ilga.gov), checked Nov 13, 2026. Text links go to the official versions; LegiList does not copy bill text.