Illinois HB3338 proposes a study on eliminating the property tax system by 2030 and replacing it with income tax receipts.
HB3338 amends the Department of Revenue Law of the Civil Administrative Code of Illinois. It mandates the Department of Revenue, in consultation with the Governor's Office of Management and Budget, to conduct a study on the feasibility of eliminating the property tax system by January 1, 2030. The study will examine states without property taxes and propose spending cuts or an increased income tax rate to replace the lost revenue.
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- Core Provisions
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- Legal Framework
- Critical Issues
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