100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB4924

 

Introduced , by Rep. Jerry Lee Long

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/15-173
35 ILCS 200/15-173.5 new

    Amends the Property Tax Code. Creates the Natural Disaster Home Repair Assistance Homestead Exemption. Creates a homestead exemption for homestead property that meets the following criteria: (1) the property sustains damage as a result a natural disaster occurring in assessment year 2017 or any assessment year thereafter; and (2) the homeowner incurs costs to repair that damage during the assessment year for which the exemption is sought. Provides that the exemption is a reduction in the equalized assessed value of the property in an amount equal to the costs incurred by the homeowner, but not to exceed $5,000 per year. Effective immediately.


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

 

 

A BILL FOR

 

HB4924LRB100 19920 HLH 35200 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 changing
5Section 15-173 and by adding Section 15-173.5 as follows:
 
6    (35 ILCS 200/15-173)
7    Sec. 15-173. Natural Disaster Homestead Exemption.
8    (a) This Section may be cited as the Natural Disaster
9Homestead Exemption.
10    (b) As used in this Section:
11    "Base amount" means the base year equalized assessed value
12of the residence.
13    "Base year" means the taxable year prior to the taxable
14year in which the natural disaster occurred.
15    "Chief county assessment officer" means the County
16Assessor or Supervisor of Assessments of the county in which
17the property is located.
18    "Equalized assessed value" means the assessed value as
19equalized by the Illinois Department of Revenue.
20    "Homestead property" has the meaning ascribed to that term
21in Section 15-175 of this Code.
22    "Natural disaster" means an occurrence of widespread or
23severe damage or loss of property resulting from any

 

 

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1catastrophic cause including but not limited to fire, flood,
2earthquake, wind, storm, or extended period of severe inclement
3weather. In the case of a residential structure affected by
4flooding, the structure shall not be eligible for this
5homestead improvement exemption unless it is located within a
6local jurisdiction which is participating in the National Flood
7Insurance Program. A proclamation of disaster by the President
8of the United States or Governor of the State of Illinois is
9not a prerequisite to the classification of an occurrence as a
10natural disaster under this Section.
11    (c) A homestead exemption shall be granted by the chief
12county assessment officer for homestead properties containing
13a residential structure that has been rebuilt following a
14natural disaster occurring in taxable year 2012 or any taxable
15year thereafter. The amount of the exemption is the equalized
16assessed value of the residence in the first taxable year for
17which the taxpayer applies for an exemption under this Section
18minus the base amount. To be eligible for an exemption under
19this Section: (i) the residential structure must be rebuilt
20within 2 years after the date of the natural disaster; and (ii)
21the square footage of the rebuilt residential structure may not
22be more than 110% of the square footage of the original
23residential structure as it existed immediately prior to the
24natural disaster. The taxpayer's initial application for an
25exemption under this Section must be made no later than the
26first taxable year after the residential structure is rebuilt.

 

 

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1The exemption shall continue at the same annual amount until
2the taxable year in which the property is sold or transferred.
3    (d) To receive the exemption, the taxpayer shall submit an
4application to the chief county assessment officer of the
5county in which the property is located by July 1 of each
6taxable year. A county may, by resolution, establish a date for
7submission of applications that is different than July 1. The
8chief county assessment officer may require additional
9documentation to be provided by the applicant. The applications
10shall be clearly marked as applications for the Natural
11Disaster Homestead Exemption.
12    (e) Property is not eligible for an exemption under this
13Section, Section 15-173.5, and Section 15-180 for the same
14natural disaster or catastrophic event. The property may,
15however, remain eligible for an additional exemption under
16Section 15-180 for any separate event occurring after the
17property qualified for an exemption under this Section.
18    (f) The exemption under this Section carries over to the
19benefit of the surviving spouse as long as the spouse holds the
20legal or beneficial title to the homestead and permanently
21resides thereon.
22    (g) Notwithstanding Sections 6 and 8 of the State Mandates
23Act, no reimbursement by the State is required for the
24implementation of any mandate created by this Section.
25(Source: P.A. 97-716, eff. 6-29-12.)
 

 

 

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1    (35 ILCS 200/15-173.5 new)
2    Sec. 15-173.5. Natural Disaster Home Repair Assistance
3Homestead Exemption.
4    (a) This Section may be cited as the Natural Disaster Home
5Repair Assistance Homestead Exemption.
6    (b) As used in this Section:
7    "Chief county assessment officer" means the county
8assessor or supervisor of assessments of the county in which
9the property is located.
10    "Homestead property" has the meaning given to that term in
11Section 15-175 of this Code.
12    "Natural disaster" means an occurrence of widespread or
13severe damage or loss of property resulting from any
14catastrophic cause including, but not limited to, fire, flood,
15earthquake, wind, storm, or extended period of severe inclement
16weather. In the case of a residential structure affected by
17flooding, the structure shall not be eligible for this
18homestead exemption unless it is located within a local
19jurisdiction which is participating in the National Flood
20Insurance Program. A proclamation of disaster by the President
21of the United States or Governor of the State of Illinois is
22not a prerequisite to the classification of an occurrence as a
23natural disaster under this Section.
24    (c) A homestead exemption, limited to a reduction from the
25property's equalized assessed value as set forth in subsection
26(e), shall be granted by the chief county assessment officer

 

 

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1for homestead property that meets the following criteria:
2        (1) the property sustains damage as a result a natural
3    disaster occurring in assessment year 2017 or any
4    assessment year thereafter; and
5        (2) the homeowner incurs costs to repair that damage
6    during the assessment year for which the exemption is
7    sought.
8    (d) To be eligible for an exemption under this Section:
9        (1) the property must be repaired within 3 years after
10    the date of the natural disaster; and
11        (2) the repairs must be made demonstrably as a result
12    of the damage caused by the natural disaster to the
13    property and shall not represent a homestead improvement,
14    as provided under Section 15-180, of the original
15    residential structure as it existed immediately prior to
16    the natural disaster.
17    (e) The amount of the reduction shall be the amount of the
18costs incurred by the homeowner, but in no event shall the
19amount of the exemption exceed $5,000 per year.
20    (f) To receive the exemption, the taxpayer shall submit an
21application to the chief county assessment officer of the
22county in which the property is located by July 1 of each
23taxable year. A county may, by resolution, establish a date for
24submission of applications that is different than July 1. The
25chief county assessment officer may require additional
26documentation to be provided by the applicant in order to

 

 

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1establish the value of the exemption and reasonably ascertain
2that the exemption applied for under this Section is awarded
3for repairs made on a property as a result of the natural
4disaster. The applications shall be clearly marked as
5applications for the Natural Disaster Home Repair Assistance
6Homestead Exemption.
7    (g) Property is not eligible for an exemption under this
8Section, Section 15-173, and Section 15-180 for the same
9natural disaster. The property may, however, remain eligible
10for an additional exemption under Section 15-173 or Section
1115-180 for any separate event occurring after the property
12qualified for an exemption under this Section.
13    (h) Notwithstanding Sections 6 and 8 of the State Mandates
14Act, no reimbursement by the State is required for the
15implementation of any mandate created by this Section.
 
16    Section 99. Effective date. This Act takes effect upon
17becoming law.