How HB 2382 changes current law

Compared against the Illinois Compiled Statutes as published AI-generated reading aid — verify against the official bill.

The bill adjusts the maximum income limitation for the low-income senior citizens assessment freeze homestead exemption to increase annually based on the Employment Cost Index starting in 2024.

• 35 ILCS 200/15-172

  and thereafter, $65,000 for all qualified property; and . → and thereafter, $65,000 for all qualified property; and (8) for taxable years 2023 and thereafter, the maximum income limitation for the immediately preceding taxable year, multiplied by one plus the percentage increase, if any, in the Employment Cost Index for the 12-month period ending in September of the calendar year immediately preceding the taxable year for which the limitation is calculated.

  This change allows the income limit for the exemption to automatically increase each year, adjusting for inflation as measured by the Employment Cost Index.