OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Issue Position: Real Tax Relief for Illinois Families and Seniors

Issue Position

Date: Jan. 1, 2012
Issues: Senior Citizens Entitlements and the Safety Net

Senior Property Tax Relief

*Reduce the of property taxes on seniors by:

1. exempting Social Security income from the definition of income assessment freeze eligibility purposes;
2. decreasing the age limit from 65 to 55 to qualify for the senior citizens' assessment freeze;
3. increasing the "ceiling" level of income needed to qualify for the assessment freeze;
4. expanding the senior citizens' Homestead Exemption from $4,000 to $5,500; and
5. indexing the Homestead Exemption and the assessment freeze to the inflation rate. (All in HB 4916)

Property Tax Relief for Families

*Double the Income Tax Credit for property taxes paid from 5% to 10%.

Reducing the cost of gas in Illinois

*Suspend the State sales tax on motor fuel for a 4.5 month period. (HB 6318)

Creating a sales tax holiday

*Authorize a one-time sales tax holiday to provide consumer tax relief and encourage consumer spending. (HB 6319)


Source
arrow_upward