HB5878 103RD GENERAL ASSEMBLY

LRB103 42432 HLH 75662 b

103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB5878

Introduced , by Rep. Martin McLaughlin

SYNOPSIS AS INTRODUCED:

35 ILCS 200/15-171 new

Amends the Property Tax Code. Provides that certain homestead property that is owned by a person who will be 67 years of age or older during the taxable year is exempt from property taxes levied by a school district. Effective immediately.

A BILL FOR

AN ACT concerning revenue.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Property Tax Code is amended by adding Section 15-171 as follows:

(35 ILCS 200/15-171 new)

Sec. 15-171. Senior citizens school district homestead exemption.

(a) For taxable year 2025 and each taxable year thereafter, in addition to any other homestead exemption to which the property is entitled under this Code, qualified homestead property is exempt from any property tax levied by a school district.

(b) If a homestead exemption has been granted under this Section and the qualified applicant subsequently becomes a resident of a facility licensed under the Assisted Living and Shared Housing Act, the Nursing Home Care Act, the Specialized Mental Health Rehabilitation Act of 2013, the ID/DD Community Care Act, or the MC/DD Act, the exemption shall continue so long as (i) the residence continues to be occupied by the qualified applicant's spouse and the spouse is 67 years of age or older or (ii) the residence is unoccupied but is still owned by the qualified applicant.

(c) Applications for the homestead exemption under this Section must be made during the application period in effect for the county in which the property is located. The assessor or chief county assessment officer may determine the eligibility of property to receive the homestead exemption provided by this Section by application, visual inspection, questionnaire, or other reasonable methods.

(d) Notwithstanding Sections 6 and 8 of the State Mandates Act, no reimbursement by the State is required for the implementation of any mandate created by this Section.

(e) As used in this Section:

"Applicant" means an individual who applies for a homestead exemption under this Section.

"Homestead property" has the meaning given to that term in Section 15-175.

"Qualified applicant" means an applicant who (i) will be 67 years of age or older during the taxable year for which the exemption under this Section is being sought, (ii) is liable for the payment of property taxes on the qualified homestead property, and (iii) is an owner of record of the qualified homestead property or has a legal, equitable, or leasehold interest in the property, as evidenced by a written instrument.

"Qualified homestead property" means homestead property, but less any portion of that property that is used for commercial purposes, with an equalized assessed value of less than $250,000 that, as of January 1 of the taxable year, is the primary residence of a qualified applicant. Property that is rented for more than 6 months is presumed to be used for commercial purposes.

"Taxable year" means the calendar year during which ad valorem property taxes payable in the next succeeding year are levied.

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