PROP TAX-SENR CITIZN EXEMPTION

Amends the Senior Citizens Homestead Exemption provisions of the Property Tax Code. Provides that in a county with 3,000,000 or more inhabitants (i) if the assessed valuation of property has increased by more than 20% over the previous assessed valuation of that property, an additional exemption is allowed, with the amount determined by household income and (ii) if a person has been granted a senior citizens homestead exemption, the person qualifying need not reapply for the exemption unless the person is applying for an additional exemption based upon a household income of less than $40,000. Effective immediately.