Bill Status of HB 3314   104th General Assembly

Short Description:  PROP TX-ASSESSMENT LIMIT

House Sponsors
Rep. Rick Ryan

Last Action  View All Actions

DateChamber Action
  3/21/2025HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
35 ILCS 200/9-145

Synopsis As Introduced
Amends the Property Tax Code. Provides that the assessed value of residential property in any general assessment year shall not exceed the assessed value of the property in the last general assessment year multiplied by one plus the percentage change in the Consumer Price Index during the 12-month calendar year immediately preceding the general assessment year for which the reassessment is conducted. Provides that the limitation does not apply if the increase in assessment is attributable to an addition, improvement, or modification to the property. Preempts the power of home rule units to tax. Effective immediately.

Actions 
DateChamber Action
  2/6/2025HouseFiled with the Clerk by Rep. Rick Ryan
  2/18/2025HouseFirst Reading
  2/18/2025HouseReferred to Rules Committee
  3/11/2025HouseAssigned to Revenue & Finance Committee
  3/12/2025HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Rick Ryan
  3/12/2025HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  3/13/2025HouseHouse Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
  3/13/2025HouseTo Tax Policy: Other Taxes Subcommittee
  3/21/2025HouseRule 19(a) / Re-referred to Rules Committee
  3/21/2025HouseHouse Committee Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee

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