94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
SB3082


 
Introduced 1/20/2006, by Sen. Deanna Demuzio
 
SYNOPSIS AS INTRODUCED:
 		













35 ILCS 200/15-167 new










    Amends the Property Tax Code. Creates a homestead exemption for disabled veterans. Sets forth the amount of the exemption based on the percentage of service-connected disability of the veteran. Provides that the exemption carries over to the benefit of the veteran's
surviving spouse. Effective immediately.
















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FISCAL NOTE ACT MAY APPLY


HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











SB3082

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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 adding 
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Section 15-167 as follows:
 
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    (35 ILCS 200/15-167  new)
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    Sec. 15-167. Disabled veterans standard homestead 
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exemption.
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    (a) An annual homestead exemption, limited to the amounts 
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set forth in subsection (b),  is granted for property that is 
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used as a qualified residence by a disabled veteran.
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    (b) The amount of the exemption under this Section is as 
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follows:
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        (1) for veterans with a service-connected disability 
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    of 100%, as certified by the United States Department of 
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    Veterans Affairs, the annual  exemption is $15,000;
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        (2) for veterans with a service-connected disability 
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    of at least 50%, but less than 100%, as certified by the 
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    United States Department of Veterans Affairs, the annual  
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    exemption is $5,000; and
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        (3) for veterans with a service-connected disability 
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    of at least 20%, but less than 50%, as certified by the 
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    United States Department of Veterans Affairs, the annual  
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    exemption is $2,000.
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    (c) The tax exemption under this Section carries over to 
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the benefit of the veteran's
surviving spouse as long as the 
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spouse holds the legal or
beneficial title to the homestead, 
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permanently resides
thereon, and does not remarry. If the 
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surviving spouse sells
the property, an exemption not to exceed 
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the amount granted
from the most recent ad valorem tax roll may 
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be transferred to
his or her new residence as long as it is 
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used as his or her
primary residence and he or she does not 
 


 






SB3082
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remarry.
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    (d) The exemption under this Section applies for taxable 
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year 2006 and thereafter and is in addition to any other 
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exemption under this Act.
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    (e) For the purposes of this Section:
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    "Qualified residence" means real
property, but less any 
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portion of that property that is used for
commercial purposes, 
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with an equalized assessed value of less than $250,000. 
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Property rented for more than 6 months is
presumed to be used 
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for commercial purposes.
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    "Veteran" means an Illinois resident who has served as a

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member of the United States Armed Forces on active duty or

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State active duty, a member of the Illinois National Guard, or

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a member of the United States Reserve Forces and who has 
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received an honorable discharge.
 

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