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HB 4320

Illinois House of Representatives bill in Session 104.

Status: in_committee. Latest action: January 14, 2026.

PROP TX-EXTENSIONS.

Bill ID IL-104-HB-4320
Session 104
Status in_committee
Committee Rules Committee
House of Representatives in_committee 2026-01-14
Summary

Amends the Property Tax Code. Provides that, beginning in taxable year 2027, no taxing district may levy a tax on any parcel of real property that is more than 103% of the base amount unless (i) the increase is attributable to substantial improvements to the property, (ii) the taxing district did not levy a tax against the property in the previous taxable year, or (iii) the increase is attributable to a special service area. Provides that "base amount"" means the tax levied by the taxing district on the subject property in the immediately preceding taxable year, except that, if the property received a homestead exemption in the immediately preceding taxable year and is not eligible for that exemption in the current taxable year, then the base amount shall be the tax that would have been levied by the taxing district on the subject property in the immediately preceding taxable year if the homestead exemption had not been applied. Provides that a taxing district may elect to be exempt from those provisions for one or more taxable years if the exemption is approved by referendum. Effective immediately."

Sponsor
Jed Davis
Official Source Back to Bills
Actions Timeline
Date Event Detail
2026-01-14 Introduced Bill introduced
2026-01-14 Status in_committee
2026-01-14 Latest Action 1/14/2026 - House:
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