Illinois 104th General Assembly Status: Introduced 3 R cosponsors

SB3540      — PROP TX-ASSESSMENT LIMIT

Last action — Added as Co-Sponsor Sen. Dave Syverson

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  1. 1
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill has been introduced in the Senate. Introduced February 05, 2026. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Prognosis

Not enough signal yet

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

Not enough signal yet to read this bill's trajectory — we surface a likelihood only once there's real movement (stage, sponsorship, committee, or votes) to point to.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

In plain language

Limits the increase in assessed value of residential property for tax purposes.

This bill amends property tax rules to restrict how much the assessed value of residential property can increase each assessment year. The increase is tied to the Consumer Price Index and does not apply if the property has been improved.

What this means for you
  • {}: {}
  • Families: Families may experience more stable property tax amounts due to limited increases in assessed property values.
  • Small Business: Small businesses could see indirect effects, as property-related costs may stabilize, impacting overall economic conditions.

Summary

Amends the Property Tax Code. Provides that the assessed value of residential property in any general assessment year shall not exceed the assessed value of the property in the last general assessment year multiplied by one plus the percentage change in the Consumer Price Index during the 12-month calendar year immediately preceding the general assessment year for which the reassessment is conducted. Provides that the limitation does not apply if the increase in assessment is attributable to an addition, improvement, or modification to the property. Preempts the power of home rule units to tax. Effective immediately.

Bill Text

We don't have the full text on file for this bill yet.

Read SB3540 on the official Illinois source →

Action History

  1. Added as Co-Sponsor Sen. Dave Syverson

  2. Added as Co-Sponsor Sen. Darby A. Hills

  3. Referred to Assignments

  4. First Reading

  5. Filed with Secretary by Sen. Chapin Rose

Sponsors

Sponsorship breakdown

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1 sponsors · 2 co-sponsors · 180 not signed on

Sponsors (1)

Co-sponsors (2)

Not signed on (180)

180 members have not signed on to this bill.

Show all 180 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation housing
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB3540      do?
Amends the Property Tax Code. Provides that the assessed value of residential property in any general assessment year shall not exceed the assessed value of the property in the last general assessment year multiplied by one plus the percentage change in the Consumer Price Index during the 12-month calendar year immediately preceding the general assessment year for which the reassessment is conducted. Provides that the limitation does not apply if the increase in assessment is attributable to an addition, improvement, or modification to the property. Preempts the power of home rule units to tax. Effective immediately.
Who sponsors SB3540     ?
SB3540      is sponsored by Chapin Rose (Republican), Darby A. Hills (Republican), and Dave Syverson (Republican).
What is the current status of SB3540     ?
This bill has been introduced in the Senate. Introduced February 05, 2026. It must pass committee before a floor vote.
Where can I track SB3540     ?
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Last checked for changes 3 months ago · updated continuously

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