104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1192 Introduced , by Rep. Steven Reick SYNOPSIS AS INTRODUCED: 35 ILCS 5/208 from Ch. 120, par. 2-208 Amends the Illinois Income Tax Act. Provides that, if the amount of the credit for residential real property taxes exceeds the taxpayer's liability, that amount shall be refunded if the taxpayer is 65 years or older and has a federal adjusted gross income of not more than $50,000. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately. LRB104 03366 HLH 13388 b A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1192 Introduced , by Rep. Steven Reick SYNOPSIS AS INTRODUCED: 35 ILCS 5/208 from Ch. 120, par. 2-208 35 ILCS 5/208 from Ch. 120, par. 2-208 Amends the Illinois Income Tax Act. Provides that, if the amount of the credit for residential real property taxes exceeds the taxpayer's liability, that amount shall be refunded if the taxpayer is 65 years or older and has a federal adjusted gross income of not more than $50,000. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately. LRB104 03366 HLH 13388 b LRB104 03366 HLH 13388 b A BILL FOR
104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1192 Introduced , by Rep. Steven Reick SYNOPSIS AS INTRODUCED:
35 ILCS 5/208 from Ch. 120, par. 2-208 35 ILCS 5/208 from Ch. 120, par. 2-208
35 ILCS 5/208 from Ch. 120, par. 2-208
Amends the Illinois Income Tax Act. Provides that, if the amount of the credit for residential real property taxes exceeds the taxpayer's liability, that amount shall be refunded if the taxpayer is 65 years or older and has a federal adjusted gross income of not more than $50,000. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.
LRB104 03366 HLH 13388 b LRB104 03366 HLH 13388 b
LRB104 03366 HLH 13388 b
A BILL FOR
HB1192LRB104 03366 HLH 13388 b HB1192 LRB104 03366 HLH 13388 b
HB1192 LRB104 03366 HLH 13388 b
1 AN ACT concerning revenue.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Illinois Income Tax Act is amended by
5 changing Section 208 as follows:
6 (35 ILCS 5/208) (from Ch. 120, par. 2-208)
7 Sec. 208. Tax credit for residential real property taxes.
8 Beginning with tax years ending on or after December 31, 1991,
9 every individual taxpayer shall be entitled to a tax credit
10 equal to 5% of real property taxes paid by such taxpayer during
11 the taxable year on the principal residence of the taxpayer.
12 In the case of multi-unit or multi-use structures and farm
13 dwellings, the taxes on the taxpayer's principal residence
14 shall be that portion of the total taxes which is attributable
15 to such principal residence. Notwithstanding any other
16 provision of law, for taxable years beginning on or after
17 January 1, 2017, no taxpayer may claim a credit under this
18 Section if the taxpayer's adjusted gross income for the
19 taxable year exceeds (i) $500,000, in the case of spouses
20 filing a joint federal tax return, or (ii) $250,000, in the
21 case of all other taxpayers.
22 For taxable years beginning on or after January 1, 2025,
23 if the amount of the credit exceeds the taxpayer's income tax
104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1192 Introduced , by Rep. Steven Reick SYNOPSIS AS INTRODUCED:
35 ILCS 5/208 from Ch. 120, par. 2-208 35 ILCS 5/208 from Ch. 120, par. 2-208
35 ILCS 5/208 from Ch. 120, par. 2-208
Amends the Illinois Income Tax Act. Provides that, if the amount of the credit for residential real property taxes exceeds the taxpayer's liability, that amount shall be refunded if the taxpayer is 65 years or older and has a federal adjusted gross income of not more than $50,000. Provides that the credit is exempt from the Act's automatic sunset provision. Effective immediately.
LRB104 03366 HLH 13388 b LRB104 03366 HLH 13388 b
LRB104 03366 HLH 13388 b
A BILL FOR
35 ILCS 5/208 from Ch. 120, par. 2-208
LRB104 03366 HLH 13388 b
HB1192 LRB104 03366 HLH 13388 b
HB1192- 2 -LRB104 03366 HLH 13388 b HB1192 - 2 - LRB104 03366 HLH 13388 b
HB1192 - 2 - LRB104 03366 HLH 13388 b
1 liability for the applicable tax year, then the excess credit
2 shall be refunded to the taxpayer if the taxpayer is 65 years
3 old or older and has a federal adjusted gross income of not
4 more than $50,000. The amount of a refund shall not be included
5 in the taxpayer's income or resources for the purposes of
6 determining eligibility or benefit level in any means-tested
7 benefit program administered by a governmental entity unless
8 required by federal law.
9 This Section is exempt from the provisions of Section 250.
10 (Source: P.A. 101-8, see Section 99 for effective date;
11 102-558, eff. 8-20-21.)
HB1192 - 2 - LRB104 03366 HLH 13388 b