HB1167

Establishes a pilot program for property tax relief in South Suburban Cook County and modifies the Cannabis Regulation Fund.

The bill creates the South Suburban Property Tax Relief Homestead Exemption Pilot Program for taxable years 2026 through 2030. Qualified homestead property in specific zip codes, owned and occupied by individuals for at least five years, can receive a credit against property taxes. The credit is the lesser of the property tax liability or $5,000. The Cook County Assessor administers the program on a first-come, first-served basis, with a limit of 7,500 properties per year.