republic-os/legislation/us/states/il/102nd/sb-3895.md

---
type: "Bill"
title: "PROP TX-REDUCED ASSESSED VALUE"
description: "Amends the Property Tax Code. Provides that to receive a reduction in assessed value, an owner, for the purpose of the initial application and only until the building is put in service, may provide proof of either a deed restriction or participation in a government program that includes legally enforceable affordability requirements comparable to the requirements of this Code and the chief county assessment officer shall furnish a letter of intent to the applicant indicating that a preliminary assessment of the new construction or qualifying rehabilitation indicates that it will meet all eligibility requirements. Modifies \"assessed value for the residential real property in the base year\" to mean the assessed value used to calculate the tax bill, as certified by the Board of Review, for the tax year immediately prior to the tax year in which the building permit is issued; for property assessed as other than residential property, the \"assessed value for the residential real property in the base year\" means the assessed value that would have been obtained had the property been classified as residential as derived from the Board of Review's certified market value (currently, the value in effect at the end of the taxable year prior to the latter of: (1) the date of initial application; or (2) the date on which 20% of the total number of units in the property are occupied by eligible tenants paying eligible rent). Modifies \"maximum income limits\" to include when a property may be deemed to have satisfied the maximum income limits with a weighted average if municipal, state, or federal laws, ordinances, rules or regulations requires the use of a weighted average of no more than 60% of area median income for that property. Modifies \"maximum rent\" to include that a property may be deemed to have satisfied the maximum rent with a weighted average if municipal, state, or federal laws, ordinances, rules or regulations requires the use of a weighted average of no more than 60% of area median income for that property."
jurisdiction: "us/states/il"
legislature: "Illinois General Assembly"
session: "102nd"
identifier: "SB 3895"
citation: "Illinois SB 3895 (102nd)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["Ann Gillespie", "Will Guzzardi"]
version_count: 4
action_count: 30
vote_count: 1
first_action: "2022-01-21"
last_action: "2022-05-20"
source: "openstates"
source_identifier: "ocd-bill/f28f9f51-4d42-40ca-9a40-cdbd1edbf37a"
source_url: "https://ilga.gov/legislation/BillStatus.asp?DocNum=3895&GAID=16&DocTypeID=SB&LegId=138981&SessionID=110&GA=102"
source_hash: "dc850331babef5e7566fa98e96c469618be4f783664221c6b4689afcff435650"
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 SB 3895 (102nd) — PROP TX-REDUCED ASSESSED VALUE

Amends the Property Tax Code. Provides that to receive a reduction in assessed value, an owner, for the purpose of the initial application and only until the building is put in service, may provide proof of either a deed restriction or participation in a government program that includes legally enforceable affordability requirements comparable to the requirements of this Code and the chief county assessment officer shall furnish a letter of intent to the applicant indicating that a preliminary assessment of the new construction or qualifying rehabilitation indicates that it will meet all eligibility requirements. Modifies "assessed value for the residential real property in the base year" to mean the assessed value used to calculate the tax bill, as certified by the Board of Review, for the tax year immediately prior to the tax year in which the building permit is issued; for property assessed as other than residential property, the "assessed value for the residential real property in the base year" means the assessed value that would have been obtained had the property been classified as residential as derived from the Board of Review's certified market value (currently, the value in effect at the end of the taxable year prior to the latter of: (1) the date of initial application; or (2) the date on which 20% of the total number of units in the property are occupied by eligible tenants paying eligible rent). Modifies "maximum income limits" to include when a property may be deemed to have satisfied the maximum income limits with a weighted average if municipal, state, or federal laws, ordinances, rules or regulations requires the use of a weighted average of no more than 60% of area median income for that property. Modifies "maximum rent" to include that a property may be deemed to have satisfied the maximum rent with a weighted average if municipal, state, or federal laws, ordinances, rules or regulations requires the use of a weighted average of no more than 60% of area median income for that property.

## Version chain

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

1. **Introduced** (filed) — [source](https://ilga.gov/legislation/102/SB/PDF/10200SB3895.pdf)
2. **Engrossed** (committee substitute) — [source](https://ilga.gov/legislation/102/SB/PDF/10200SB3895eng.pdf)
3. **Senate Amendment 001** (committee substitute) — [source](https://ilga.gov/legislation/102/SB/PDF/10200SB3895sam001.pdf)
4. **Enrolled** (enrolled) — [source](https://ilga.gov/legislation/102/SB/PDF/10200SB3895enr.pdf)

## Votes

- Third Reading — **109–0** (pass) · lower

## Sponsors

- Ann Gillespie — primary (person)
- Will Guzzardi — primary (person)
- Sara Feigenholtz — cosponsor (person)

## Timeline

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

- **2022-01-21** Filed with Secretary by Sen. Ann Gillespie `filing`
- **2022-01-21** First Reading `reading-1`
- **2022-01-21** Referred to Assignments `referral-committee`
- **2022-01-27** Added as Chief Co-Sponsor Sen. Sara Feigenholtz
- **2022-02-01** Assigned to Revenue `referral-committee`
- **2022-02-07** Senate Committee Amendment No. 1 Filed with Secretary by Sen. Ann Gillespie `amendment-introduction`
- **2022-02-07** Senate Committee Amendment No. 1 Referred to Assignments `referral-committee`
- **2022-02-08** Senate Committee Amendment No. 1 Assignments Refers to Revenue
- **2022-02-09** Senate Committee Amendment No. 1 Adopted `amendment-passage`
- **2022-02-10** Do Pass as Amended Revenue; 011-000-000 `committee-passage`
- **2022-02-10** Placed on Calendar Order of 2nd Reading February 15, 2022
- **2022-02-15** Second Reading `reading-2`
- **2022-02-15** Placed on Calendar Order of 3rd Reading February 16, 2022
- **2022-02-16** Third Reading - Passed; 053-000-000 `passage, reading-3`
- **2022-02-16** Arrived in House `introduction`
- **2022-02-17** Chief House Sponsor Rep. Michael J. Zalewski
- **2022-02-17** First Reading `reading-1`
- **2022-02-17** Referred to Rules Committee `referral-committee`
- **2022-03-07** Assigned to Revenue & Finance Committee `referral-committee`
- **2022-03-17** Do Pass / Short Debate Revenue & Finance Committee; 018-000-000 `committee-passage`
- **2022-03-17** Placed on Calendar 2nd Reading - Short Debate
- **2022-03-23** Second Reading - Short Debate `reading-2`
- **2022-03-23** Placed on Calendar Order of 3rd Reading - Short Debate
- **2022-03-25** Alternate Chief Sponsor Changed to Rep. Will Guzzardi
- **2022-04-01** Third Reading - Short Debate - Passed 109-000-000 `passage, reading-3`
- **2022-04-01** Passed Both Houses
- **2022-04-29** Sent to the Governor `executive-receipt`
- **2022-05-20** Governor Approved `executive-signature`
- **2022-05-20** Effective Date May 20, 2022
- **2022-05-20** Public Act . . . . . . . . . 102-0893 `became-law`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/f28f9f51-4d42-40ca-9a40-cdbd1edbf37a`. Confidence: reported (aggregated from official Illinois legislature records).