PROP TX-ASSESSMENT LIMIT House SponsorsRep. Jed Davis 1/14/2026HouseReferred to Rules Committee 35 ILCS 200/9-145 Amends the Property Tax Code. Provides that the equalized assessed value of property in a general assessment year, other than long-term ownership property, shall not exceed the equalized assessed value of the property in the immediately preceding general assessment year, increased by the lesser of: (1) 3% of the equalized assessed value of the property for the immediately preceding general assessment year; or (2) the percentage increase, if any, in the Consumer Price Index during the 12-month calendar year preceding the general assessment year for which the property is being reassessed. Provides that the equalized assessed value of long-term ownership property in a general assessment year shall not exceed the equalized assessed value of the property in the immediately preceding general assessment year increased by 2% of the equalized assessed value of the property for the immediately preceding general assessment year. Defines "long-term ownership property". Preempts the power of home rule units to tax. Effective immediately. 1/7/2026HouseFiled with the Clerk by Rep. Jed Davis 1/14/2026HouseFirst Reading 1/14/2026HouseReferred to Rules Committee