Bill Text: IL HB2866 | 2019-2020 | 101st General Assembly | Introduced
Bill Title: Amends the Property Tax Code. Provides for a homestead exemption in the amount of $5,000 for property that is owned and occupied as the principal residence of an active duty member of the military. Effective immediately.
Spectrum: Partisan Bill (Democrat 7-0)
Status: (Introduced - Dead) 2020-05-22 - Added Co-Sponsor Rep. Martin J. Moylan [HB2866 Detail]
Download: Illinois-2019-HB2866-Introduced.html
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1 | AN ACT concerning revenue.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Property Tax Code is amended by adding | ||||||||||||||||||||||||
5 | Section 15-167.1 as follows:
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6 | (35 ILCS 200/15-167.1 new) | ||||||||||||||||||||||||
7 | Sec. 15-167.1. Homestead for active duty military. | ||||||||||||||||||||||||
8 | (a) Beginning with taxable year 2019, a homestead | ||||||||||||||||||||||||
9 | exemption, limited to a reduction of $5,000 from the property's | ||||||||||||||||||||||||
10 | equalized assessed value, is granted for property that is owned | ||||||||||||||||||||||||
11 | and occupied as the principal residence of an active duty | ||||||||||||||||||||||||
12 | member of the military who is liable for paying real estate | ||||||||||||||||||||||||
13 | taxes on the property and is an owner of record of the property | ||||||||||||||||||||||||
14 | or has a legal or equitable interest therein as evidenced by a | ||||||||||||||||||||||||
15 | written instrument, except for a leasehold interest, other than | ||||||||||||||||||||||||
16 | a leasehold interest of land on which a single family residence | ||||||||||||||||||||||||
17 | is located, which is occupied as the principal residence of an | ||||||||||||||||||||||||
18 | active duty member of the military who has an ownership | ||||||||||||||||||||||||
19 | interest therein, legal, equitable or as a lessee, and on which | ||||||||||||||||||||||||
20 | he or she is liable for the payment of property taxes. For | ||||||||||||||||||||||||
21 | purposes of the exemption under this Section, "member of the | ||||||||||||||||||||||||
22 | military" means an Illinois resident who is serving as a member | ||||||||||||||||||||||||
23 | of the United States Armed Forces, a member of the Illinois |
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1 | National Guard, or a member of the United States Reserve Forces | ||||||
2 | on active duty. | ||||||
3 | (b) Application must be made during the application period | ||||||
4 | in effect for the county in which the property is located. The | ||||||
5 | assessor or chief county assessment officer may determine the | ||||||
6 | eligibility of residential property to receive the homestead | ||||||
7 | exemption provided by this Section by application, visual | ||||||
8 | inspection, questionnaire, or other reasonable methods. The | ||||||
9 | determination must be made in accordance with guidelines | ||||||
10 | established by the Department. | ||||||
11 | (c) The exemption under this Section is in addition to any | ||||||
12 | other homestead exemption provided in this Article 15. | ||||||
13 | Notwithstanding Sections 6 and 8 of the State Mandates Act, no | ||||||
14 | reimbursement by the State is required for the implementation | ||||||
15 | of any mandate created by this Section.
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16 | Section 99. Effective date. This Act takes effect upon | ||||||
17 | becoming law.
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