---
type: "Bill"
title: "PROP TX-REFUNDS"
description: "Amends the Property Tax Code. Provides that property tax refunds must be paid to the taxpayer at the annual rate of the lesser of (i) 5% or (ii) the percentage increase in the Consumer Price Index For All Urban Consumers during the 12-month calendar year preceding the levy year for which the refund was made, as published by the federal Bureau of Labor Statistics (now, the interest rate is 5% per year). Effective January 1, 2006."
jurisdiction: "us/states/il"
legislature: "Illinois General Assembly"
session: "94th"
identifier: "HB 504"
citation: "Illinois HB 504 (94th)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: []
version_count: 3
action_count: 39
vote_count: 2
first_action: "2005-01-27"
last_action: "2005-08-12"
source: "openstates"
source_identifier: "ocd-bill/2e0cd5f5-f645-454e-9425-a67869e501e2"
source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=504&GAID=8&DocTypeID=HB&LegId=14872&SessionID=50&GA=94"
source_hash: "828e201eaf239f57d728a62810416f75aa8a833174d4359b1c5082bdf5794ffb"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-il"]
---

# Illinois HB 504 (94th) — PROP TX-REFUNDS

Amends the Property Tax Code. Provides that property tax refunds must be paid to the taxpayer at the annual rate of the lesser of (i) 5% or (ii) the percentage increase in the Consumer Price Index For All Urban Consumers during the 12-month calendar year preceding the levy year for which the refund was made, as published by the federal Bureau of Labor Statistics (now, the interest rate is 5% per year). Effective January 1, 2006.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Introduced** (filed) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09400HB0504&GA=94&SessionId=50&DocTypeId=HB&LegID=14872&DocNum=504&GAID=8&Session=&print=true)
2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09400HB0504eng&GA=94&SessionId=50&DocTypeId=HB&LegID=14872&DocNum=504&GAID=8&Session=&print=true)
3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09400HB0504enr&GA=94&SessionId=50&DocTypeId=HB&LegID=14872&DocNum=504&GAID=8&Session=&print=true)

## Votes

- Third Reading — **63–48** (pass) · lower
- Third Reading — **52–5** (pass) · upper

## Sponsors

- Elaine Nekritz — primary (person)
- Ira I. Silverstein — cosponsor (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2005-01-27** Filed with the Clerk by Rep. Elaine Nekritz `filing`
- **2005-01-27** Chief Co-Sponsor Rep. Kathleen A. Ryg
- **2005-01-27** First Reading `reading-1`
- **2005-01-27** Referred to Rules Committee `referral-committee`
- **2005-02-02** Assigned to Revenue Committee `referral-committee`
- **2005-02-08** Added Chief Co-Sponsor Rep. Sidney H. Mathias
- **2005-02-16** Added Chief Co-Sponsor Rep. Robin Kelly
- **2005-02-18** Recommends Be Adopted Sub-committee/ Revenue Committee; 003-000-000 `committee-passage-favorable`
- **2005-02-18** Remains in Revenue Committee
- **2005-03-01** Added Co-Sponsor Rep. Karen A. Yarbrough
- **2005-03-10** Do Pass / Short Debate Revenue Committee; 012-000-000 `committee-passage`
- **2005-03-10** Placed on Calendar 2nd Reading - Short Debate
- **2005-03-15** Second Reading - Short Debate `reading-2`
- **2005-03-15** Placed on Calendar Order of 3rd Reading - Short Debate
- **2005-03-17** Added Chief Co-Sponsor Rep. Julie Hamos
- **2005-03-17** Added Co-Sponsor Rep. Elizabeth Coulson
- **2005-03-17** Added Co-Sponsor Rep. Sandra M. Pihos
- **2005-03-17** Added Co-Sponsor Rep. Carolyn H. Krause
- **2005-03-17** Added Co-Sponsor Rep. Karen May
- **2005-03-17** Third Reading - Short Debate - Passed 063-048-001 `reading-3, passage`
- **2005-03-17** Arrive in Senate `introduction`
- **2005-03-17** Placed on Calendar Order of First Reading April 6, 2005 `reading-1`
- **2005-03-21** Chief Senate Sponsor Sen. Susan Garrett
- **2005-04-06** First Reading `reading-1`
- **2005-04-06** Referred to Rules `referral-committee`
- **2005-04-07** Added as Alternate Co-Sponsor Sen. Ira I. Silverstein
- **2005-04-13** Assigned to Revenue `referral-committee`
- **2005-04-15** Added as Alternate Chief Co-Sponsor Sen. M. Maggie Crotty
- **2005-04-21** Do Pass Revenue; 010-000-000 `committee-passage`
- **2005-04-21** Placed on Calendar Order of 2nd Reading May 3, 2005
- **2005-05-11** Second Reading `reading-2`
- **2005-05-11** Placed on Calendar Order of 3rd Reading May 12, 2005
- **2005-05-16** Added as Alternate Chief Co-Sponsor Sen. Don Harmon
- **2005-05-17** Third Reading - Passed; 052-005-000 `reading-3, passage`
- **2005-05-17** Passed Both Houses
- **2005-06-15** Sent to the Governor `executive-receipt`
- **2005-08-12** Governor Approved `executive-signature`
- **2005-08-12** Effective Date January 1, 2006
- **2005-08-12** Public Act . . . . . . . . . 94-0558 `became-law`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/2e0cd5f5-f645-454e-9425-a67869e501e2`. Confidence: reported (aggregated from official Illinois legislature records).