FRANKS. 35 ILCS 200/15-165 30 ILCS 805/8.26 new Amends the Property Tax Code. Changes the exemption for disabled veterans. The exemption now applies only to property up to an assessed value of $58,000 owned and used exclusively as a home by a disabled veteran found eligible for specially adapted housing by the federal government or the spouse or unmarried surviving spouse of the veteran. This amendatory Act provides that the exemption applies, for taxable years 2002 and thereafter, to the first $58,000 in assessed value of property owned and used exclusively by a disabled veteran, or the spouse or unmarried surviving spouse of the veteran, as a home. Provides that a disabled veteran is a person who served in the U.S. Armed Forces and (i) who was found 100% disabled and eligible for disabled veterans benefits or (ii) who was found disabled and eligible for Social Security Disability or SSI benefits. Amends the State Mandates Act to require implementation without reimbursement. JAN-16-2002 H FILED WITH CLERK JAN-17-2002 H FIRST READING JAN-17-2002 H REFERRED TO HOUSE RULES COMMITTEE RULES JAN-07-2003 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary