SB1492
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What this bill does
Amends the Property Tax Code. In provisions concerning platted and subdivided but undeveloped property, provides that (i) beginning with the 2025 taxable year, no property's assessed value shall be reduced to less than $150 under those provisions and (ii) beginning with the 2035 taxable year, no property shall be eligible for calculation of its assessed value under those provisions for more than a 10-year period.
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Current stage: In Committee · Last action 118 days ago · SLOW
How does a bill become law in Illinois?
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Introduction of Bill
A member of the Senate or the House introduces a bill, which is assigned a unique identifying number (e.g., "H.B. ___" for House bills and "S.B. ___" for Senate bills). If not enacted, it must be reintroduced in the next General Assembly with a new number.
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Committee Work — Hearings
The bill goes to the appropriate committee, which holds hearings to gather expert opinions and determine the need for the legislation.
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Committee Work — Markup, Amendments, Report
The committee may make amendments to the bill. If approved, a committee report endorsing the bill is issued.
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Floor Debate
The bill is debated and can be further amended. The debate transcripts are accessible online for public viewing.
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Passage and Consideration in Second Chamber
If the bill passes in the first chamber, it moves to the second chamber for a similar review process. If both chambers approve, it goes to the governor.
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Gubernatorial Action
The governor can sign the bill into law, veto it, or take no action (resulting in an automatic law after 60 days). The type of veto can be total or amendatory. Once signed, the bill becomes a Public Act and is assigned a Public Act number.
Sponsor Context
Bills sponsored by Meg Loughran Cappel advance 3% more often than the chamber average.
Hearings
This bill has not been scheduled for a committee hearing.
Witness slips
1 slip filed. Proponent / opponent / no position as filed with the committee.
| Name | Organization | Representing | Position | Hearing committee | Hearing date |
|---|---|---|---|---|---|
| Jessica Basham | Governmental Consulting Solutions | County Assessment Officers Assn | Proponent | Revenue | 2025-04-03 |
Action History
10 actions recorded. Last action: 2026-01-27 — Re-assigned toRevenue. Each action's meaning and outcome signal are classified automatically.
All actions (table)
| Date | Chamber | Action | Category | Signal |
|---|---|---|---|---|
| 2025-01-31 | Senate | Filed with Secretary bySen. Meg Loughran Cappel Rule 2-7(b) | Introduction & Filing | — |
| 2025-01-31 | Senate | First Reading Senate Rule 5-1(d)/5-2; House Rule 37(d)/38 | Introduction & Filing | — |
| 2025-01-31 | Senate | Referred toAssignments Senate Rule 3-8(a); House Rule 18(a) | Committee Assignment | — |
| 2025-02-11 | Senate | Assigned toRevenue Senate Rule 3-8(a); House Rule 18(b) | Committee Assignment | — |
| 2025-03-21 | Senate | Rule 2-10 Committee Deadline Established As April 11, 2025 Rule 2-10(a)(3-4) | Deadlines & Re-referrals | — |
| 2025-04-11 | Senate | Rule 2-10 Committee Deadline Established As May 9, 2025 Rule 2-10(a)(3-4) | Deadlines & Re-referrals | — |
| 2025-05-09 | Senate | Rule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025 Rule 2-10(a) | Deadlines & Re-referrals | — |
| 2025-05-23 | Senate | Rule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025 Rule 2-10(a) | Deadlines & Re-referrals | — |
| 2025-06-02 | Senate | Rule 3-9(a) / Re-referred toAssignments Rule 3-9(a) | Deadlines & Re-referrals | Mild − |
| 2026-01-27 | Senate | Re-assigned toRevenue Senate Rule 3-8(d); House Rule 18(f) | Committee Assignment | — |