093_SB0135

 
                                     LRB093 04309 SJM 04356 b

 1        AN ACT in relation to taxes.

 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 changing
 5    Section 15-165 as follows:

 6        (35 ILCS 200/15-165)
 7        Sec. 15-165.  Disabled veterans.
 8        (a)  Property up to an assessed value of  $58,000,  owned
 9    and  used exclusively by a disabled veteran, or the spouse or
10    unmarried surviving spouse of the  veteran,  as  a  home,  is
11    exempt.  As  used  in   this Section, a disabled veteran is a
12    person included in either item (1) or (2): means
13             (1)  A person who has served in the Armed Forces  of
14        the  United  States  and  whose  disability  is of such a
15        nature that the Federal Government has authorized payment
16        for purchase or construction of Specially Adapted Housing
17        as set forth in the United States Code, Title 38, Chapter
18        21, Section 2101.  The exemption applies to housing where
19        Federal funds have been used  to  purchase  or  construct
20        special adaptations to suit the veteran's disability. The
21        exemption  also  applies  to  housing  that  is specially
22        adapted to suit the veteran's disability,  and  purchased
23        entirely  or  in part by the proceeds of a sale, casualty
24        loss reimbursement, or other transfer of a home for which
25        the Federal Government had previously authorized  payment
26        for   purchase   or  construction  as  Specially  Adapted
27        Housing.  However,  the  entire  proceeds  of  the  sale,
28        casualty loss reimbursement, or other  transfer  of  that
29        housing shall be applied to the acquisition of subsequent
30        specially adapted housing to the extent that the proceeds
31        equal  the  purchase  price  of the subsequently acquired
 
                            -2-      LRB093 04309 SJM 04356 b
 1        housing.
 2             (2)  For taxable years 2003 and thereafter, a person
 3        who (i) is receiving disability  compensation,  rated  at
 4        50%  or  higher,  from  the  U.S.  Department of Veterans
 5        Affairs, (ii) is age 65 or older  in  the  taxable  year,
 6        (iii) is not employed, and (iv) has no children under the
 7        age of 21.
 8        (b)  For  purposes  of this Section, "unmarried surviving
 9    spouse" means the surviving spouse of the veteran at any time
10    after the death of the veteran during  which  such  surviving
11    spouse is not married.
12        (c)  This  exemption  must  be reestablished on an annual
13    basis  by  certification  from  the  Illinois  Department  of
14    Veterans' Affairs to the Department, which  shall  forward  a
15    copy of the certification to local assessing officials.
16    (Source: P.A. 91-401, eff. 1-1-00.)

17        Section  99.  Effective date.  This Act takes effect upon
18    becoming law.