House Sponsors: KOSEL. Short description: FIRST TIME HOMESTEAD EXEMPT Synopsis of Bill as introduced: Amends the Property Tax Code. Provides that beginning in taxable year 1999, a first-time home buyer of qualifying homestead property receives an additional homestead exemption of $1,000 if (i) the homebuyer's adjusted gross income as reported for federal income tax purposes is less than $100,000 and (ii) the homestead property's equalized assessed value is less than $200,000. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status