SB3978

Illinois SB3978 establishes a Circuit Breaker Property Tax Relief Act to assist homeowners with property tax bill spikes.

Illinois SB3978, the Circuit Breaker Property Tax Relief Act, creates a fund to provide grants to homeowners who have experienced significant property tax bill increases. Eligible homeowners must be domiciled in Illinois, receive a homestead exemption, and meet income limits. The grant covers up to 50% of the tax bill spike, defined as a tax increase of more than $500. The Chief County Assessment Officer administers the program, handling applications and determining eligibility. Fraudulent claims are subject to penalties.