Full Text of HB3195 100th General Assembly
HB3195 100TH GENERAL ASSEMBLY |
| | 100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018 HB3195 Introduced 2/9/2017, by Rep. Christine Winger SYNOPSIS AS INTRODUCED: |
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Amends the Property Tax Code. Provides that a veteran who (i) returned from an armed conflict involving the armed forces of the United States prior to 2007 and (ii) otherwise meets the requirements for a returning veterans' homestead exemption is entitled to a returning veterans' homestead exemption for the 2017 and 2018 taxable years. 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,
| 3 | | represented in the General Assembly:
| 4 | | Section 5. The Property Tax Code is amended by changing | 5 | | Section 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 | 9 | | exemption, limited to a reduction set forth under subsection | 10 | | (b), from the property's value, as equalized or assessed by the | 11 | | Department, is granted for property that is owned and occupied | 12 | | as the principal residence of a veteran returning from an armed | 13 | | conflict involving the armed forces of the United States who is | 14 | | liable for paying real estate taxes on the property and is an | 15 | | owner of record of the property or has a legal or equitable | 16 | | interest therein as evidenced by a written instrument, except | 17 | | for a leasehold interest, other than a leasehold interest of | 18 | | land on which a single family residence is located, which is | 19 | | occupied as the principal residence of a veteran returning from | 20 | | an armed conflict involving the armed forces of the United | 21 | | States who has an ownership interest therein, legal, equitable | 22 | | or as a lessee, and on which he or she is liable for the payment | 23 | | of property taxes. For purposes of the exemption under this |
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| 1 | | Section, "veteran" means an Illinois resident who has served as | 2 | | a member of the United States Armed Forces, a member of the | 3 | | Illinois National Guard, or a member of the United States | 4 | | Reserve Forces. | 5 | | (b) In all counties, the reduction is $5,000 for the | 6 | | taxable year in which the veteran returns from active duty in | 7 | | an armed conflict involving the armed forces of the United | 8 | | States; however, if the veteran first acquires his or her | 9 | | principal residence during the taxable year in which he or she | 10 | | returns, but after January 1 of that year, and if the property | 11 | | is owned and occupied by the veteran as a principal residence | 12 | | on January 1 of the next taxable year, he or she may apply the | 13 | | exemption for the next taxable year, and only the next taxable | 14 | | year, after he or she returns. Beginning in taxable year 2010, | 15 | | the reduction shall also be allowed for the taxable year after | 16 | | the taxable year in which the veteran returns from active duty | 17 | | in an armed conflict involving the armed forces of the United | 18 | | States. For land improved with an apartment building owned and | 19 | | operated as a cooperative, the maximum reduction from the value | 20 | | of the property, as equalized by the Department, must be | 21 | | multiplied by the number of apartments or units occupied by a | 22 | | veteran returning from an armed conflict involving the armed | 23 | | forces of the United States who is liable, by contract with the | 24 | | owner or owners of record, for paying property taxes on the | 25 | | property and is an owner of record of a legal or equitable | 26 | | interest in the cooperative apartment building, other than a |
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| 1 | | leasehold interest. In a cooperative where a homestead | 2 | | exemption has been granted, the cooperative association or the | 3 | | management firm of the cooperative or facility shall credit the | 4 | | savings resulting from that exemption only to the apportioned | 5 | | tax liability of the owner or resident who qualified for the | 6 | | exemption. Any person who willfully refuses to so credit the | 7 | | savings is guilty of a Class B misdemeanor. | 8 | | (c) Application must be made during the application period | 9 | | in effect for the county of his or her residence. The assessor | 10 | | or chief county assessment officer may determine the | 11 | | eligibility of residential property to receive the homestead | 12 | | exemption provided by this Section by application, visual | 13 | | inspection, questionnaire, or other reasonable methods. The | 14 | | determination must be made in accordance with guidelines | 15 | | established by the Department. | 16 | | (c-5) Notwithstanding any other provision of law, a veteran | 17 | | who (i) returned from an armed conflict involving the armed | 18 | | forces of the United States prior to 2007 and (ii) otherwise | 19 | | meets the requirements for an exemption under this Section is | 20 | | entitled to the reduction set forth in subsection (b) for the | 21 | | 2017 and 2018 taxable years. | 22 | | (d) The exemption under this Section is in addition to any | 23 | | other homestead exemption provided in this Article 15. | 24 | | Notwithstanding Sections 6 and 8 of the State Mandates Act, no | 25 | | reimbursement by the State is required for the implementation | 26 | | of any mandate created by this Section.
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| 1 | | (Source: P.A. 96-1288, eff. 7-26-10; 96-1418, eff. 8-2-10; | 2 | | 97-333, eff. 8-12-11.)
| 3 | | Section 99. Effective date. This Act takes effect upon | 4 | | becoming law.
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