Illinois General Assembly - Bill Status for SB1978

Synopsis As Introduced
Creates the Circuit Breaker Property Tax Relief Act. Provides that an individual who: (i) is domiciled in this State; (ii) is eligible for and receives either the general homestead exemption the general alternative homestead exemption; (iii) has experienced property tax bill spikes; and (iv) has an income that meets a specified income eligibility limitation is eligible for a grant of a portion of their bill spike. Provides that the maximum amount of grant to which a claimant is entitled is the one-half of the claimant's tax bill spike. Creates the Circuit Breaker Property Tax Relief Fund for the purpose of making grants to claimants. Amends the State Finance Act to make conforming changes. Effective immediately.

Actions

Date	Chamber	Action
2/6/2025	Senate	Filed with Secretary by Sen. Patrick J. Joyce
2/6/2025	Senate	First Reading
2/6/2025	Senate	Referred to Assignments
2/27/2025	Senate	Added as Co-Sponsor Sen. Mattie Hunter
4/4/2025	Senate	Added as Co-Sponsor Sen. Ram Villivalam

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