PROP TX-ASSESSMENT AND EXEMPTS House SponsorsRep. Kevin Joyce-John A. Fritchey-Thomas Holbrook and Richard T. Bradley 1/13/2009HouseSession Sine Die 20 ILCS 620/6from Ch. 67 1/2, par. 100635 ILCS 200/9-147 new35 ILCS 200/14-1535 ILCS 200/15-1035 ILCS 200/15-17035 ILCS 200/15-17535 ILCS 200/15-177 new35 ILCS 200/18-178 new35 ILCS 200/18-18535 ILCS 200/20-17855 ILCS 85/6from Ch. 34, par. 700655 ILCS 90/45from Ch. 34, par. 804565 ILCS 5/11-74.4-8from Ch. 24, par. 11-74.4-865 ILCS 5/11-74.4-9from Ch. 24, par. 11-74.4-965 ILCS 5/11-74.6-4065 ILCS 110/45105 ILCS 5/18-8.05720 ILCS 5/17A-1from Ch. 38, par. 17A-130 ILCS 805/8.31 new Amends the Property Tax Code. Provides that, in Cook County, homestead property must be valued at 100% of its fair cash value. Requires the Cook County Clerk to abate the property taxes levied on homestead property in an amount equal to: (1) the amount of the aggregate extension of all taxing districts against the property; less (2) an amount equal to 1% of the equalized assessed value of the property. Sets forth procedures to apply this abatement to the aggregate extensions of each taxing district. Creates the Cook County general homestead exemption to limit the assessment increases if homestead property to the lesser of: (i) 2%; or (ii) the increase in the CPI. Sets forth the taxable years in which this general homestead exemption applies. Amends the State aid provisions of the School Code to provide that, if the general homestead exemption is determined under the Cook County general homestead exemption provisions, then the available local resources are not effected. In provisions concerning the Property Tax Extension Limitation Law in the Property Tax Code, defines "extension limitation", for the 2007 taxable year and thereafter, as (a) the lesser of 2% (now, 5%) or the percentage increase in the Consumer Price Index during the 12-month calendar year preceding the levy year or (b) the rate of increase approved by voters. Amends various Acts to include a cross reference to the Cook County general homestead exemption provision in the Property Tax Code. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. 2/15/2007HouseFiled with the Clerk by Rep. Kevin Joyce 2/20/2007HouseAdded Co-Sponsor Rep. John A. Fritchey 2/20/2007HouseFirst Reading 2/20/2007HouseReferred to Rules Committee 2/22/2007HouseAssigned to Revenue Committee 3/22/2007HouseAdded Chief Co-Sponsor Rep. Thomas Holbrook 3/22/2007HouseChief Co-Sponsor Changed to Rep. Thomas Holbrook 3/23/2007HouseRule 19(a) / Re-referred to Rules Committee 3/29/2007HouseAssigned to Revenue Committee 3/29/2007HouseCommittee/3rd Reading Deadline Extended-Rule April 30, 2007 4/19/2007HouseRecommends Do Pass Subcommittee/ Revenue Committee; 000-000-003; Lost 4/19/2007HouseRemains in Revenue Committee 4/30/2007HouseRule 19(a) / Re-referred to Rules Committee 5/15/2007HouseRemoved Co-Sponsor Rep. John A. Fritchey 5/15/2007HouseAdded Chief Co-Sponsor Rep. John A. Fritchey 5/15/2007HouseChief Co-Sponsor Changed to Rep. John A. Fritchey 5/29/2007HouseAdded Co-Sponsor Rep. Richard T. Bradley 2/20/2008HouseAssigned to Revenue Committee 3/14/2008HouseRule 19(a) / Re-referred to Rules Committee 1/13/2009HouseSession Sine Die