| 1 | 1 | | 104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026 SB2093 Introduced 2/6/2025, by Sen. Erica Harriss SYNOPSIS AS INTRODUCED: 35 ILCS 5/208 from Ch. 120, par. 2-208 Amends the Illinois Income Tax Act. Provides that the credit for residential real property taxes is refundable. Effective immediately. LRB104 10842 HLH 20923 b A BILL FOR 104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026 SB2093 Introduced 2/6/2025, by Sen. Erica Harriss 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 the credit for residential real property taxes is refundable. Effective immediately. LRB104 10842 HLH 20923 b LRB104 10842 HLH 20923 b A BILL FOR |
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| 2 | 2 | | 104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026 SB2093 Introduced 2/6/2025, by Sen. Erica Harriss SYNOPSIS AS INTRODUCED: |
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| 3 | 3 | | 35 ILCS 5/208 from Ch. 120, par. 2-208 35 ILCS 5/208 from Ch. 120, par. 2-208 |
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| 4 | 4 | | 35 ILCS 5/208 from Ch. 120, par. 2-208 |
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| 5 | 5 | | Amends the Illinois Income Tax Act. Provides that the credit for residential real property taxes is refundable. Effective immediately. |
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| 6 | 6 | | LRB104 10842 HLH 20923 b LRB104 10842 HLH 20923 b |
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| 7 | 7 | | LRB104 10842 HLH 20923 b |
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| 8 | 8 | | A BILL FOR |
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| 9 | 9 | | SB2093LRB104 10842 HLH 20923 b SB2093 LRB104 10842 HLH 20923 b |
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| 10 | 10 | | SB2093 LRB104 10842 HLH 20923 b |
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| 11 | 11 | | 1 AN ACT concerning revenue. |
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| 12 | 12 | | 2 Be it enacted by the People of the State of Illinois, |
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| 13 | 13 | | 3 represented in the General Assembly: |
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| 14 | 14 | | 4 Section 5. The Illinois Income Tax Act is amended by |
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| 15 | 15 | | 5 changing Section 208 as follows: |
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| 16 | 16 | | 6 (35 ILCS 5/208) (from Ch. 120, par. 2-208) |
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| 17 | 17 | | 7 Sec. 208. Tax credit for residential real property taxes. |
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| 18 | 18 | | 8 Beginning with tax years ending on or after December 31, 1991, |
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| 19 | 19 | | 9 every individual taxpayer shall be entitled to a tax credit |
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| 20 | 20 | | 10 equal to 5% of real property taxes paid by such taxpayer during |
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| 21 | 21 | | 11 the taxable year on the principal residence of the taxpayer. |
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| 22 | 22 | | 12 In the case of multi-unit or multi-use structures and farm |
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| 23 | 23 | | 13 dwellings, the taxes on the taxpayer's principal residence |
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| 24 | 24 | | 14 shall be that portion of the total taxes which is attributable |
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| 25 | 25 | | 15 to such principal residence. Notwithstanding any other |
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| 26 | 26 | | 16 provision of law, for taxable years beginning on or after |
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| 27 | 27 | | 17 January 1, 2017, no taxpayer may claim a credit under this |
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| 28 | 28 | | 18 Section if the taxpayer's adjusted gross income for the |
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| 29 | 29 | | 19 taxable year exceeds (i) $500,000, in the case of spouses |
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| 30 | 30 | | 20 filing a joint federal tax return, or (ii) $250,000, in the |
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| 31 | 31 | | 21 case of all other taxpayers. |
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| 32 | 32 | | 22 For taxable years beginning on or after January 1, 2025, |
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| 33 | 33 | | 23 if the amount of the credit exceeds the taxpayer's income tax |
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| 37 | 37 | | 104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026 SB2093 Introduced 2/6/2025, by Sen. Erica Harriss SYNOPSIS AS INTRODUCED: |
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| 38 | 38 | | 35 ILCS 5/208 from Ch. 120, par. 2-208 35 ILCS 5/208 from Ch. 120, par. 2-208 |
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| 39 | 39 | | 35 ILCS 5/208 from Ch. 120, par. 2-208 |
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| 40 | 40 | | Amends the Illinois Income Tax Act. Provides that the credit for residential real property taxes is refundable. Effective immediately. |
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| 41 | 41 | | LRB104 10842 HLH 20923 b LRB104 10842 HLH 20923 b |
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| 42 | 42 | | LRB104 10842 HLH 20923 b |
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| 43 | 43 | | A BILL FOR |
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| 48 | 48 | | |
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| 49 | 49 | | 35 ILCS 5/208 from Ch. 120, par. 2-208 |
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| 53 | 53 | | LRB104 10842 HLH 20923 b |
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| 63 | 63 | | SB2093 LRB104 10842 HLH 20923 b |
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| 66 | 66 | | SB2093- 2 -LRB104 10842 HLH 20923 b SB2093 - 2 - LRB104 10842 HLH 20923 b |
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| 67 | 67 | | SB2093 - 2 - LRB104 10842 HLH 20923 b |
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| 68 | 68 | | 1 liability for the applicable tax year, then the excess credit |
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| 69 | 69 | | 2 shall be refunded to the taxpayer. The amount of a refund shall |
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| 70 | 70 | | 3 not be included in the taxpayer's income or resources for the |
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| 71 | 71 | | 4 purposes of determining eligibility or benefit level in any |
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| 72 | 72 | | 5 means-tested benefit program administered by a governmental |
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| 73 | 73 | | 6 entity unless required by federal law. |
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| 74 | 74 | | 7 This Section is exempt from the provisions of Section 250. |
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| 75 | 75 | | 8 (Source: P.A. 101-8, see Section 99 for effective date; |
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| 76 | 76 | | 9 102-558, eff. 8-20-21.) |
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| 82 | 82 | | SB2093 - 2 - LRB104 10842 HLH 20923 b |
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