94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
SB3082

 

Introduced 1/20/2006, by Sen. Deanna Demuzio

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/15-167 new

    Amends the Property Tax Code. Creates a homestead exemption for disabled veterans. Sets forth the amount of the exemption based on the percentage of service-connected disability of the veteran. Provides that the exemption carries over to the benefit of the veteran's surviving spouse. Effective immediately.


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FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

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1     AN ACT concerning revenue.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Property Tax Code is amended by adding
5 Section 15-167 as follows:
 
6     (35 ILCS 200/15-167 new)
7     Sec. 15-167. Disabled veterans standard homestead
8 exemption.
9     (a) An annual homestead exemption, limited to the amounts
10 set forth in subsection (b), is granted for property that is
11 used as a qualified residence by a disabled veteran.
12     (b) The amount of the exemption under this Section is as
13 follows:
14         (1) for veterans with a service-connected disability
15     of 100%, as certified by the United States Department of
16     Veterans Affairs, the annual exemption is $15,000;
17         (2) for veterans with a service-connected disability
18     of at least 50%, but less than 100%, as certified by the
19     United States Department of Veterans Affairs, the annual
20     exemption is $5,000; and
21         (3) for veterans with a service-connected disability
22     of at least 20%, but less than 50%, as certified by the
23     United States Department of Veterans Affairs, the annual
24     exemption is $2,000.
25     (c) The tax exemption under this Section carries over to
26 the benefit of the veteran's surviving spouse as long as the
27 spouse holds the legal or beneficial title to the homestead,
28 permanently resides thereon, and does not remarry. If the
29 surviving spouse sells the property, an exemption not to exceed
30 the amount granted from the most recent ad valorem tax roll may
31 be transferred to his or her new residence as long as it is
32 used as his or her primary residence and he or she does not

 

 

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1 remarry.
2     (d) The exemption under this Section applies for taxable
3 year 2006 and thereafter and is in addition to any other
4 exemption under this Act.
5     (e) For the purposes of this Section:
6     "Qualified residence" means real property, but less any
7 portion of that property that is used for commercial purposes,
8 with an equalized assessed value of less than $250,000.
9 Property rented for more than 6 months is presumed to be used
10 for commercial purposes.
11     "Veteran" means an Illinois resident who has served as a
12 member of the United States Armed Forces on active duty or
13 State active duty, a member of the Illinois National Guard, or
14 a member of the United States Reserve Forces and who has
15 received an honorable discharge.
 
16     Section 99. Effective date. This Act takes effect upon
17 becoming law.