97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB1386

 

Introduced , by Rep. John E. Bradley

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/15-167

    Amends the Property Tax Code. Provides that the returning veterans' homestead exemption may be granted to a returning veteran each year the veteran returns from active duty in an armed conflict. Provides that the reduction is $6,000 for a veteran who returns from two or more tours of active duty in armed conflicts. 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,
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. The homestead exemption granted under this

 

 

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1Section shall apply to a veteran each taxable year in which the
2veteran returns from an armed conflict involving the armed
3forces of the United States. For purposes of the exemption
4under this Section, "veteran" means an Illinois resident who
5has served as a member of the United States Armed Forces, a
6member of the Illinois National Guard, or a member of the
7United States Reserve Forces.
8    (b) In all counties, the reduction is $5,000 for the
9taxable year in which the veteran returns from active duty in
10an armed conflict involving the armed forces of the United
11States; however, if the veteran first acquires his or her
12principal residence during the taxable year in which he or she
13returns, but after January 1 of that year, and if the property
14is owned and occupied by the veteran as a principal residence
15on January 1 of the next taxable year, he or she may apply the
16exemption for the next taxable year, and only the next taxable
17year, after he or she returns. For a veteran who has returned
18from two or more tours of active duty in armed conflicts
19involving the armed forces of the United States, the reduction
20is $6,000 for any taxable year in which the veteran returns
21from active duty in an armed conflict involving the armed
22forces of the United States subsequent to the first taxable
23year in which the veteran returned from active duty in an armed
24conflict involving the armed forces of the United States.
25Beginning in taxable year 2010, the reduction shall also be
26allowed for the taxable year after the taxable year in which

 

 

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1the veteran returns from active duty in an armed conflict
2involving the armed forces of the United States. For land
3improved with an apartment building owned and operated as a
4cooperative, the maximum reduction from the value of the
5property, as equalized by the Department, must be multiplied by
6the number of apartments or units occupied by a veteran
7returning from an armed conflict involving the armed forces of
8the United States who is liable, by contract with the owner or
9owners of record, for paying property taxes on the property and
10is an owner of record of a legal or equitable interest in the
11cooperative apartment building, other than a leasehold
12interest. In a cooperative where a homestead exemption has been
13granted, the cooperative association or the management firm of
14the cooperative or facility shall credit the savings resulting
15from that exemption only to the apportioned tax liability of
16the owner or resident who qualified for the exemption. Any
17person who willfully refuses to so credit the savings is guilty
18of a Class B misdemeanor.
19    (c) Application must be made during the application period
20in effect for the county of his or her residence. The assessor
21or chief county assessment officer may determine the
22eligibility of residential property to receive the homestead
23exemption provided by this Section by application, visual
24inspection, questionnaire, or other reasonable methods. The
25determination must be made in accordance with guidelines
26established by the Department.

 

 

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1    (d) The exemption under this Section is in addition to any
2other homestead exemption provided in this Article 15.
3Notwithstanding Sections 6 and 8 of the State Mandates Act, no
4reimbursement by the State is required for the implementation
5of any mandate created by this Section.
6(Source: P.A. 95-644, eff. 10-12-07; 96-1288, eff. 7-26-10;
796-1418, eff. 8-2-10; revised 9-2-10.)
 
8    Section 99. Effective date. This Act takes effect upon
9becoming law.