Bill Text: IL SB2315 | 2023-2024 | 103rd General Assembly | Engrossed

---

Bill Title: Amends the Property Tax Code. In provisions granting a homestead exemption to veterans with disabilities, provides that property that is used as a qualified residence by a veteran who was a member of the United States Armed Forces during World War II is exempt from taxation regardless of the veteran's level of disability. Provides that a veteran who qualifies as a result of his or her service in World War II need not reapply for the exemption. Makes changes concerning service-connected disabilities. Makes changes concerning surviving spouses. Creates a homestead exemption for surviving spouses of fallen police officers, fallen firefighters, and fallen rescue workers in an amount equal to 50% of the equalized assessed value of the property. Makes changes concerning the valuation of wastewater facilities. In provisions concerning the Historic Residence Assessment Freeze Law, provides that the fair cash value of the property shall be based on the final determination by the assessment officer, board of review, Property Tax Appeal Board, or court. Provides that, after the expiration of the 8-year valuation period, if the current fair cash value is less than the adjusted base year valuation, then the assessment shall be based on the current fair cash value. Makes changes concerning multi-township assessors. Provides that property that is used for a petroleum refinery may be the subject of a real property tax assessment settlement agreement among the taxpayer and taxing districts in which the property is situated. Amends the Park District Aquarium and Museum Act. Changes the Act's short title to the Park District and Municipal Aquarium and Museum Act. Replaces the Act's existing references to "city" and "cities" with "municipality" and "municipalities". Provides that the board of park commissioners or corporate authorities of a municipality (currently, only boards of park commissioners) may levy a tax if the park district or municipality has control of a public park or parks within the park district or municipality in which an aquarium or museum is maintained. Amends the Property Tax Extension Limitation Law of the Property Tax Code. Provides that extensions for levies made under the Park District and Municipal Aquarium and Museum Act are special purpose extensions and are not included in the park district's or municipality's aggregate extension. Creates an exemption for municipality-built homes. Effective immediately.

Spectrum: Moderate Partisan Bill (Democrat 26-6)

Status: (Engrossed) 2024-03-14 - Added as Co-Sponsor Sen. Jil Tracy [SB2315 Detail]

Download: Illinois-2023-SB2315-Engrossed.html

---

SB2315 Engrossed LRB103 29625 HLH 56021 b
AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Income Tax Act is amended by
changing Section 204 as follows:
(35 ILCS 5/204) (from Ch. 120, par. 2-204)
Sec. 204. Standard exemption.
(a) Allowance of exemption. In computing net income under
this Act, there shall be allowed as an exemption the sum of the
amounts determined under subsections (b), (c) and (d),
multiplied by a fraction the numerator of which is the amount
of the taxpayer's base income allocable to this State for the
taxable year and the denominator of which is the taxpayer's
total base income for the taxable year.
(b) Basic amount. For the purpose of subsection (a) of
this Section, except as provided by subsection (a) of Section
205 and in this subsection, each taxpayer shall be allowed a
basic amount of $1000, except that for corporations the basic
amount shall be zero for tax years ending on or after December
31, 2003, and for individuals the basic amount shall be:
(1) for taxable years ending on or after December 31,
1998 and prior to December 31, 1999, $1,300;
(2) for taxable years ending on or after December 31,

SB2315 Engrossed - 2 - LRB103 29625 HLH 56021 b
1999 and prior to December 31, 2000, $1,650;
(3) for taxable years ending on or after December 31,
2000 and prior to December 31, 2012, $2,000;
(4) for taxable years ending on or after December 31,
2012 and prior to December 31, 2013, $2,050;
(5) for taxable years ending on or after December 31,
2013 and on or before December 31, 2028 December 31, 2023,
$2,050 plus the cost-of-living adjustment under subsection
(d-5).
For taxable years ending on or after December 31, 1992, a
taxpayer whose Illinois base income exceeds the basic amount
and who is claimed as a dependent on another person's tax
return under the Internal Revenue Code shall not be allowed
any basic amount under this subsection.
(c) Additional amount for individuals. In the case of an
individual taxpayer, there shall be allowed for the purpose of
subsection (a), in addition to the basic amount provided by
subsection (b), an additional exemption equal to the basic
amount for each exemption in excess of one allowable to such
individual taxpayer for the taxable year under Section 151 of
the Internal Revenue Code.
(d) Additional exemptions for an individual taxpayer and
his or her spouse. In the case of an individual taxpayer and
his or her spouse, he or she shall each be allowed additional
exemptions as follows:
(1) Additional exemption for taxpayer or spouse 65

SB2315 Engrossed - 3 - LRB103 29625 HLH 56021 b
years of age or older.
(A) For taxpayer. An additional exemption of
$1,000 for the taxpayer if he or she has attained the
age of 65 before the end of the taxable year.
(B) For spouse when a joint return is not filed. An
additional exemption of $1,000 for the spouse of the
taxpayer if a joint return is not made by the taxpayer
and his spouse, and if the spouse has attained the age
of 65 before the end of such taxable year, and, for the
calendar year in which the taxable year of the
taxpayer begins, has no gross income and is not the
dependent of another taxpayer.
(2) Additional exemption for blindness of taxpayer or
spouse.
(A) For taxpayer. An additional exemption of
$1,000 for the taxpayer if he or she is blind at the
end of the taxable year.
(B) For spouse when a joint return is not filed. An
additional exemption of $1,000 for the spouse of the
taxpayer if a separate return is made by the taxpayer,
and if the spouse is blind and, for the calendar year
in which the taxable year of the taxpayer begins, has
no gross income and is not the dependent of another
taxpayer. For purposes of this paragraph, the
determination of whether the spouse is blind shall be
made as of the end of the taxable year of the taxpayer;

SB2315 Engrossed - 4 - LRB103 29625 HLH 56021 b
except that if the spouse dies during such taxable
year such determination shall be made as of the time of
such death.
(C) Blindness defined. For purposes of this
subsection, an individual is blind only if his or her
central visual acuity does not exceed 20/200 in the
better eye with correcting lenses, or if his or her
visual acuity is greater than 20/200 but is
accompanied by a limitation in the fields of vision
such that the widest diameter of the visual fields
subtends an angle no greater than 20 degrees.
(d-5) Cost-of-living adjustment. For purposes of item (5)
of subsection (b), the cost-of-living adjustment for any
calendar year and for taxable years ending prior to the end of
the subsequent calendar year is equal to $2,050 times the
percentage (if any) by which:
(1) the Consumer Price Index for the preceding
calendar year, exceeds
(2) the Consumer Price Index for the calendar year
2011.
The Consumer Price Index for any calendar year is the
average of the Consumer Price Index as of the close of the
12-month period ending on August 31 of that calendar year.
The term "Consumer Price Index" means the last Consumer
Price Index for All Urban Consumers published by the United
States Department of Labor or any successor agency.

SB2315 Engrossed - 5 - LRB103 29625 HLH 56021 b
If any cost-of-living adjustment is not a multiple of $25,
that adjustment shall be rounded to the next lowest multiple
of $25.
(e) Cross reference. See Article 3 for the manner of
determining base income allocable to this State.
(f) Application of Section 250. Section 250 does not apply
to the amendments to this Section made by Public Act 90-613.
(g) Notwithstanding any other provision of law, for
taxable years beginning on or after January 1, 2017, no
taxpayer may claim an exemption under this Section if the
taxpayer's adjusted gross income for the taxable year exceeds
(i) $500,000, in the case of spouses filing a joint federal tax
return or (ii) $250,000, in the case of all other taxpayers.
(Source: P.A. 100-22, eff. 7-6-17; 100-865, eff. 8-14-18.)
Section 99. Effective date. This Act takes effect upon
becoming law.