PROP TX-ASSESSMENT AND EXEMPTS House SponsorsRep. Kevin Joyce 1/11/2011HouseSession Sine Die 20 ILCS 620/6from Ch. 67 1/2, par. 100635 ILCS 200/9-147 new35 ILCS 200/15-1035 ILCS 200/15-17035 ILCS 200/15-17535 ILCS 200/15-178 new35 ILCS 200/18-179 new35 ILCS 200/18-18535 ILCS 200/20-17855 ILCS 85/6from Ch. 34, par. 700665 ILCS 5/11-74.4-9from Ch. 24, par. 11-74.4-965 ILCS 110/45105 ILCS 5/18-8.0530 ILCS 805/8.34 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 of 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 various Acts to include a cross reference to homestead exemptions granted under Article 15 of the Property Tax Code. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. 2/11/2010HouseFiled with the Clerk by Rep. Kevin Joyce 2/11/2010HouseFirst Reading 2/11/2010HouseReferred to Rules Committee 2/23/2010HouseAssigned to Revenue & Finance Committee 3/11/2010HouseRecommends Do Pass Subcommittee/ Revenue & Finance Committee; 000-003-000; LOST 3/11/2010HouseRemains in Revenue & Finance Committee 3/15/2010HouseRule 19(a) / Re-referred to Rules Committee 1/11/2011HouseSession Sine Die