PROP TX-CIRCUIT BREAKER

Summary

The bill establishes a grant program that can cover as much as 50% of a qualifying Illinois homeowner’s sudden property‑tax increase. To qualify, a resident must claim the general homestead (or alternative) exemption, have experienced a tax‑bill spike, and meet an income limit of four times the federal poverty level or be enrolled in certain assistance programs. The program is funded through a new Circuit Breaker Property Tax Relief Fund and takes effect immediately.

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