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Amends the Property Tax Code. In provisions concerning platted and subdivided but undeveloped property, provides that (i) beginning with the 2025 taxable year, no property's assessed value shall be reduced to less than $150 under those provisions and (ii) beginning with the 2035 taxable year, no property shall be eligible for calculation of its assessed value under those provisions for more than a 10-year period.
Introduced
Jan 31, 2025
Last Action
Mar 13, 2026
Session
IL 104th
Sponsors
1 primary · 0 co
Rule 2-10 Committee Deadline Established As April 24, 2026
Re-assigned to Revenue
Rule 3-9(a) / Re-referred to Assignments
Rule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025
Rule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025
Rule 2-10 Committee Deadline Established As May 9, 2025
Rule 2-10 Committee Deadline Established As April 11, 2025
Assigned to Revenue
Filed with Secretary by Sen. Meg Loughran Cappel
Referred to Assignments
First Reading
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Rule 2-10 Committee Deadline Established As April 24, 2026