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Public Act 094-0310
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| HB0270 Enrolled |
LRB094 05175 BDD 35217 b |
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AN ACT concerning revenue.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Property Tax Code is amended by changing |
Section 15-165 as follows:
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(35 ILCS 200/15-165)
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Sec. 15-165. Disabled veterans. Property up to an assessed |
value of $70,000
$58,000,
owned and used exclusively by a |
disabled veteran, or the spouse or unmarried
surviving spouse |
of the veteran, as a home, is exempt. As used in this
Section, |
a disabled veteran means a person who has served in the Armed |
Forces
of the United States and whose disability is of such a |
nature that the Federal
Government has authorized payment for |
purchase or construction of Specially
Adapted Housing as set |
forth in the United States Code, Title 38, Chapter 21,
Section |
2101.
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The exemption applies to housing where Federal funds have |
been used to
purchase or construct special adaptations to suit |
the veteran's disability.
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The exemption also applies to housing that is specially |
adapted to suit the
veteran's disability, and purchased |
entirely or in part by the proceeds of a
sale, casualty loss |
reimbursement, or other transfer of a home for which the
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Federal Government had previously authorized payment for |
purchase or
construction as Specially Adapted Housing.
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However, the entire proceeds of the sale, casualty loss |
reimbursement, or
other transfer of that housing shall be |
applied to the acquisition of
subsequent specially adapted |
housing to the extent that the proceeds equal the
purchase |
price of the subsequently acquired housing.
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For purposes of this Section, "unmarried surviving spouse" |
means the
surviving spouse of the veteran at any time after the |