PROP TX-SENIOR FREEZE

Amends the Property Tax Code. Provides that, for the purposes of certain exemptions, the term "income" does not include Social Security benefits. Increases the maximum reduction under the Senior Citizens Homestead Exemption from $4,000 to $7,000 for taxable year 2010 and indexes the reduction to the Consumer Price Index. Includes disabled persons within the provisions granting an assessment freeze homestead exemption to senior citizens and changes the title of the exemption to the Senior Citizens and Disabled Persons Assessment Freeze Homestead Exemption. Decreases the age limit to qualify for the exemption from 65 years of age to 55 years of age. Increases the maximum income limitation under the exemption. Requires the county clerk to abate the taxes levied by a school district on each parcel of qualified homestead property that is owned by a taxpayer who is 65 years of age or older and who had an annual household income of $35,000 or less for the previous taxable year. Provides that, if a person turns 70 years of age or older during the taxable year and he or she qualified for a Senior Citizens Assessment Freeze Homestead Exemption in the previous taxable year, then the person qualifying need not reapply for the exemption. Amends the School Code. Subject to appropriation, requires the State Board of Education to reimburse each school district for any revenue lost due to the property tax abatement. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.