97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB1630

 

Introduced , by Rep. John E. Bradley

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/15-167

    Amends the Property Tax Code. With respect to the returning veterans' homestead exemption, provides that, in addition to the $5,000 reduction, beginning in taxable year 2011, for the second and each subsequent taxable year that the veteran returns from active duty in an armed conflict involving the armed forces of the United States, he or she shall be entitled to an additional reduction of $2,500, which shall be cumulative for each year of return.


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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,
3represented in the General Assembly:
 
4    Section 5. The Property Tax Code is amended by changing
5Section 15-167 as follows:
 
6    (35 ILCS 200/15-167)
7    Sec. 15-167. Returning Veterans' Homestead Exemption.
8    (a) Beginning with taxable year 2007, a homestead
9exemption, limited to a reduction set forth under subsection
10(b), from the property's value, as equalized or assessed by the
11Department, is granted for property that is owned and occupied
12as the principal residence of a veteran returning from an armed
13conflict involving the armed forces of the United States who is
14liable for paying real estate taxes on the property and is an
15owner of record of the property or has a legal or equitable
16interest therein as evidenced by a written instrument, except
17for a leasehold interest, other than a leasehold interest of
18land on which a single family residence is located, which is
19occupied as the principal residence of a veteran returning from
20an armed conflict involving the armed forces of the United
21States who has an ownership interest therein, legal, equitable
22or as a lessee, and on which he or she is liable for the payment
23of property taxes. For purposes of the exemption under this

 

 

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1Section, "veteran" means an Illinois resident who has served as
2a member of the United States Armed Forces, a member of the
3Illinois National Guard, or a member of the United States
4Reserve Forces.
5    (b) In all counties, the reduction is $5,000 for each the
6taxable year in which the veteran returns from active duty in
7an armed conflict involving the armed forces of the United
8States; however, if the veteran first acquires his or her
9principal residence during the taxable year in which he or she
10returns, but after January 1 of that year, and if the property
11is owned and occupied by the veteran as a principal residence
12on January 1 of the next taxable year, he or she may apply the
13exemption for the next taxable year, and only the next taxable
14year, after he or she returns. Beginning in taxable year 2010,
15the reduction shall also be allowed for the taxable year after
16the taxable year in which the veteran returns from active duty
17in an armed conflict involving the armed forces of the United
18States. Beginning in taxable year 2011, for the second and each
19subsequent taxable year that the veteran returns from active
20duty in an armed conflict involving the armed forces of the
21United States, he or she shall be entitled to an additional
22reduction of $2,500, which shall be cumulative for each year of
23return. For land improved with an apartment building owned and
24operated as a cooperative, the maximum reduction from the value
25of the property, as equalized by the Department, must be
26multiplied by the number of apartments or units occupied by a

 

 

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1veteran returning from an armed conflict involving the armed
2forces of the United States who is liable, by contract with the
3owner or owners of record, for paying property taxes on the
4property and is an owner of record of a legal or equitable
5interest in the cooperative apartment building, other than a
6leasehold interest. In a cooperative where a homestead
7exemption has been granted, the cooperative association or the
8management firm of the cooperative or facility shall credit the
9savings resulting from that exemption only to the apportioned
10tax liability of the owner or resident who qualified for the
11exemption. Any person who willfully refuses to so credit the
12savings is guilty of a Class B misdemeanor.
13    (c) Application must be made during the application period
14in effect for the county of his or her residence. The assessor
15or chief county assessment officer may determine the
16eligibility of residential property to receive the homestead
17exemption provided by this Section by application, visual
18inspection, questionnaire, or other reasonable methods. The
19determination must be made in accordance with guidelines
20established by the Department.
21    (d) The exemption under this Section is in addition to any
22other homestead exemption provided in this Article 15.
23Notwithstanding Sections 6 and 8 of the State Mandates Act, no
24reimbursement by the State is required for the implementation
25of any mandate created by this Section.
26(Source: P.A. 95-644, eff. 10-12-07; 96-1288, eff. 7-26-10;

 

 

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196-1418, eff. 8-2-10; revised 9-2-10.)