PROP TX-HOMESTEAD EXEMPTIONS House SponsorsRep. David Harris-Chris Nybo-Renée Kosel-Thomas Morrison-Sidney H. Mathias and Elaine Nekritz 1/8/2013HouseSession Sine Die 35 ILCS 200/15-17635 ILCS 200/15-177 Amends the Property Tax Code. Provides that the alternative general homestead exemption applies on a permanent basis and increases the maximum amount of the exemption to $40,000 beginning in taxable year 2011. Removes an income limitation from the long-time occupant homestead exemption. Provides that, beginning in taxable year 2011, for the purpose of calculating the long-time occupant homestead exemption, "adjusted homestead value" is the lesser of (i) the property's base homestead value increased by 7% for each taxable year after the base year through and including the current tax year or (ii) the property's equalized assessed value for the current tax year minus the general homestead deduction. Effective immediately. 2/24/2011HouseFiled with the Clerk by Rep. David Harris 2/24/2011HouseChief Co-Sponsor Rep. Chris Nybo 2/24/2011HouseChief Co-Sponsor Rep. Renée Kosel 2/24/2011HouseChief Co-Sponsor Rep. Thomas Morrison 2/24/2011HouseFirst Reading 2/24/2011HouseReferred to Rules Committee 3/3/2011HouseAssigned to Revenue & Finance Committee 3/3/2011HouseAdded Chief Co-Sponsor Rep. Sidney H. Mathias 3/17/2011HouseAdded Co-Sponsor Rep. Elaine Nekritz 3/17/2011HouseRule 19(a) / Re-referred to Rules Committee 1/8/2013HouseSession Sine Die