104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
SB1862
 
Introduced 2/5/2025, by Sen. Neil Anderson
 
SYNOPSIS AS INTRODUCED:

35 ILCS 200/15-177.1 new
30 ILCS 805/8.49 new
    Amends the Property Tax Code. Establishes a homestead exemption for qualified homestead property that has been continuously owned, used, and occupied as the primary residence by the qualified taxpayer for at least 30 years any time prior to January 1 of the taxable year for which the exemption would apply. Requires taxpayers who have been granted an exemption to reapply on an annual basis. Provides that the assessor or chief county assessment officer may determine the eligibility of residential property to receive the homestead exemption by application, visual inspection, questionnaire, or other reasonable methods. Sets forth provisions concerning the review of exemptions granted under the provisions. Defines "qualified homestead property" and "qualified taxpayer". Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.


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STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT
MAY APPLY

 
 
A BILL FOR
 
SB1862LRB104 08380 HLH 18431 b


1    AN ACT concerning revenue.

2    Be it enacted by the People of the State of Illinois, 
3represented in the General Assembly:

4    Section 5. The Property Tax Code is amended by adding 
5Section 15-177.1 as follows:

6    (35 ILCS 200/15-177.1 new)
7    Sec. 15-177.1. The 30-year property homestead exemption.
8    (a) Notwithstanding any other provision of law, beginning 
9with taxable year 2025 and each taxable year thereafter, 
10qualified homestead property that has been continuously owned, 
11used, and occupied as the primary residence by a qualified 
12taxpayer for at least 30 years any time prior to January 1 of 
13the taxable year for which the exemption would apply is exempt 
14from taxation under this Code.
15    (b) Each taxpayer who has been granted an exemption under 
16this Section must reapply on an annual basis. The applications 
17shall be clearly marked as applications for the 30-year 
18property homestead exemption. The assessor or chief county 
19assessment officer shall annually give notice of the 
20application period by mail or by publication. Application must 
21be made during the application period in effect for the county 
22in which the property is located. The assessor or chief county 
23assessment officer may determine the eligibility of 
 
 
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1residential property to receive the homestead exemption 
2provided by this Section by application, visual inspection, 
3questionnaire, or other reasonable methods, including the 
4requirement for additional documentation from the applicant. 
5The assessor or chief county assessment officer may enter into 
6intergovernmental agreements with other governmental entities 
7to establish information sharing agreements for the purpose of 
8verifying applications made under this Section. The chief 
9county assessment official shall conduct, by no later than 
10December 31 of the first year of each reassessment cycle, as 
11determined by Section 9-215 or Section 9-220, whichever 
12applies, a review of all exemptions granted under this Section 
13for the preceding reassessment cycle. The review shall be 
14designed to ascertain whether any 30-year property homestead 
15exemptions have been granted erroneously.
16    (c) As used in this Section:
17    "Qualified homestead property" means real property located 
18in the State that has been granted an exemption under this 
19Section and that, as of January 1 of the taxable year:
20        (1) is residential property that is owned and occupied 
21 by a qualified taxpayer as the qualified taxpayer's 
22 principal residence and domicile; or
23        (2) contains a single-family residence that is 
24 occupied as a principal residence and domicile by a 
25 qualified taxpayer who has a legal or equitable interest 
26 in the property as a lessee, as evidenced by a written 
 
 
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1 instrument, and on which the qualified taxpayer is liable 
2 for the payment of property taxes.
3        "Qualified taxpayer" means an individual who, for at 
4 least 30 continuous years as of January 1 of the taxable 
5 year, has occupied the same homestead property as a 
6 principal residence and domicile.

7    Section 90. The State Mandates Act is amended by adding 
8Section 8.49 as follows:

9    (30 ILCS 805/8.49 new)
10    Sec. 8.49. Exempt mandate. Notwithstanding Sections 6 and 
118 of this Act, no reimbursement by the State is required for 
12the implementation of any mandate created by this amendatory 
13Act of the 104th General Assembly.

14    Section 99. Effective date. This Act takes effect upon 
15becoming law.