Bill Text: IL HB2624 | 2021-2022 | 102nd General Assembly | Introduced

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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 1-0)

Status: (Introduced - Dead) 2021-03-27 - Rule 19(a) / Re-referred to Rules Committee [HB2624 Detail]

Download: Illinois-2021-HB2624-Introduced.html

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102ND GENERAL ASSEMBLY State of Illinois 2021 and 2022 HB2624 Introduced , by Rep. Lance Yednock SYNOPSIS AS INTRODUCED:
35 ILCS 200/15-167.1 new
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.
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FISCAL NOTE ACT MAY APPLY HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT
A BILL FOR
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AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Property Tax Code is amended by adding
Section 15-167.1 as follows:
(35 ILCS 200/15-167.1 new)
Sec. 15-167.1. Homestead for active duty military.
(a) Beginning with taxable year 2021, a homestead
exemption, limited to a reduction of $5,000 from the
property's equalized assessed value, is granted for property
that is owned and occupied as the principal residence of an
active duty member of the military who is liable for paying
real estate taxes on the property and is an owner of record of
the property or has a legal or equitable interest therein as
evidenced by a written instrument, except for a leasehold
interest, other than a leasehold interest of land on which a
single family residence is located, which is occupied as the
principal residence of an active duty member of the military
who has an ownership interest therein, legal, equitable or as
a lessee, and on which he or she is liable for the payment of
property taxes. For purposes of the exemption under this
Section, "member of the military" means an Illinois resident
who is serving as a member of the United States Armed Forces, a

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member of the Illinois National Guard, or a member of the
United States Reserve Forces on active duty.
(b) Application must be made during the application period
in effect for the county in which the property is located. The
assessor or chief county assessment officer may determine the
eligibility of residential property to receive the homestead
exemption provided by this Section by application, visual
inspection, questionnaire, or other reasonable methods. The
determination must be made in accordance with guidelines
established by the Department.
(c) The exemption under this Section is in addition to any
other homestead exemption provided in this Article 15.
Notwithstanding Sections 6 and 8 of the State Mandates Act, no
reimbursement by the State is required for the implementation
of any mandate created by this Section.
Section 99. Effective date. This Act takes effect upon
becoming law.