Illinois General Assembly - Full Text of HB5878
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Full Text of HB5878  103rd General Assembly

HB5878 103RD GENERAL ASSEMBLY

 


 
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.


LRB103 42432 HLH 75662 b

 

 

A BILL FOR

 

HB5878LRB103 42432 HLH 75662 b

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 adding
5Section 15-171 as follows:
 
6    (35 ILCS 200/15-171 new)
7    Sec. 15-171. Senior citizens school district homestead
8exemption.
9    (a) For taxable year 2025 and each taxable year
10thereafter, in addition to any other homestead exemption to
11which the property is entitled under this Code, qualified
12homestead property is exempt from any property tax levied by a
13school district.
14    (b) If a homestead exemption has been granted under this
15Section and the qualified applicant subsequently becomes a
16resident of a facility licensed under the Assisted Living and
17Shared Housing Act, the Nursing Home Care Act, the Specialized
18Mental Health Rehabilitation Act of 2013, the ID/DD Community
19Care Act, or the MC/DD Act, the exemption shall continue so
20long as (i) the residence continues to be occupied by the
21qualified applicant's spouse and the spouse is 67 years of age
22or older or (ii) the residence is unoccupied but is still owned
23by the qualified applicant.

 

 

HB5878- 2 -LRB103 42432 HLH 75662 b

1    (c) Applications for the homestead exemption under this
2Section must be made during the application period in effect
3for the county in which the property is located. The assessor
4or chief county assessment officer may determine the
5eligibility of property to receive the homestead exemption
6provided by this Section by application, visual inspection,
7questionnaire, or other reasonable methods.
8    (d) Notwithstanding Sections 6 and 8 of the State Mandates
9Act, no reimbursement by the State is required for the
10implementation of any mandate created by this Section.
11    (e) As used in this Section:
12    "Applicant" means an individual who applies for a
13homestead exemption under this Section.
14    "Homestead property" has the meaning given to that term in
15Section 15-175.
16    "Qualified applicant" means an applicant who (i) will be
1767 years of age or older during the taxable year for which the
18exemption under this Section is being sought, (ii) is liable
19for the payment of property taxes on the qualified homestead
20property, and (iii) is an owner of record of the qualified
21homestead property or has a legal, equitable, or leasehold
22interest in the property, as evidenced by a written
23instrument.
24    "Qualified homestead property" means homestead property,
25but less any portion of that property that is used for
26commercial purposes, with an equalized assessed value of less

 

 

HB5878- 3 -LRB103 42432 HLH 75662 b

1than $250,000 that, as of January 1 of the taxable year, is the
2primary residence of a qualified applicant. Property that is
3rented for more than 6 months is presumed to be used for
4commercial purposes.
5    "Taxable year" means the calendar year during which ad
6valorem property taxes payable in the next succeeding year are
7levied.
 
8    Section 99. Effective date. This Act takes effect upon
9becoming law.