Full Text of HB4743 96th General Assembly
HB4743 96TH GENERAL ASSEMBLY
|
|
|
96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010 HB4743
Introduced 1/11/2010, by Rep. Thomas Holbrook SYNOPSIS AS INTRODUCED: |
|
|
Amends the Property Tax Code. Provides that, beginning in taxable year 2010, for veterans with a service-connected disability of less than 75%, the disabled veterans standard homestead exemption is $5,000 multiplied by the veteran's certified percentage of service-connected disability. Effective immediately.
|
| |
|
|
FISCAL NOTE ACT MAY APPLY |
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY |
STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT |
|
|
A BILL FOR
|
|
|
|
|
HB4743 |
|
LRB096 16594 HLH 31868 b |
|
| 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 15-169 as follows: | 6 |
| (35 ILCS 200/15-169)
| 7 |
| Sec. 15-169. Disabled veterans standard homestead | 8 |
| exemption. | 9 |
| (a) Beginning with taxable year 2007, an annual homestead | 10 |
| exemption, limited to the amounts set forth in subsection (b), | 11 |
| is granted for property that is used as a qualified residence | 12 |
| by a disabled veteran. | 13 |
| (b) The amount of the exemption under this Section is as | 14 |
| follows: | 15 |
| (1) for veterans with a service-connected disability | 16 |
| of at least 75%, as certified by the United States | 17 |
| Department of Veterans Affairs, the annual exemption is | 18 |
| $5,000; and | 19 |
| (2) through taxable year 2009, for veterans with a | 20 |
| service-connected disability of at least 50%, but less than | 21 |
| 75%, as certified by the United States Department of | 22 |
| Veterans Affairs, the annual exemption is $2,500 ; and . | 23 |
| (3) beginning in taxable year 2010, for veterans with a |
|
|
|
HB4743 |
- 2 - |
LRB096 16594 HLH 31868 b |
|
| 1 |
| service-connected disability of less than 75%, as | 2 |
| certified by the United States Department of Veterans | 3 |
| Affairs, the annual exemption is $5,000 multiplied by the | 4 |
| veteran's certified percentage of service-connected | 5 |
| disability. | 6 |
| (c) The tax exemption under this Section carries over to | 7 |
| the benefit of the veteran's
surviving spouse as long as the | 8 |
| spouse holds the legal or
beneficial title to the homestead, | 9 |
| permanently resides
thereon, and does not remarry. If the | 10 |
| surviving spouse sells
the property, an exemption not to exceed | 11 |
| the amount granted
from the most recent ad valorem tax roll may | 12 |
| be transferred to
his or her new residence as long as it is | 13 |
| used as his or her
primary residence and he or she does not | 14 |
| remarry. | 15 |
| (d) The exemption under this Section applies for taxable | 16 |
| year 2007 and thereafter. A taxpayer who claims an exemption | 17 |
| under Section 15-165 or 15-168 may not claim an exemption under | 18 |
| this Section. | 19 |
| (e) Application must be made during the application period
| 20 |
| in effect for the county of his or her residence. The assessor
| 21 |
| or chief county assessment officer may determine the
| 22 |
| eligibility of residential property to receive the homestead
| 23 |
| exemption provided by this Section by application, visual
| 24 |
| inspection, questionnaire, or other reasonable methods. The
| 25 |
| determination must be made in accordance with guidelines
| 26 |
| established by the Department. |
|
|
|
HB4743 |
- 3 - |
LRB096 16594 HLH 31868 b |
|
| 1 |
| (f) For the purposes of this Section: | 2 |
| "Qualified residence" means real
property, but less any | 3 |
| portion of that property that is used for
commercial purposes, | 4 |
| with an equalized assessed value of less than $250,000 that is | 5 |
| the disabled veteran's primary residence. Property rented for | 6 |
| more than 6 months is
presumed to be used for commercial | 7 |
| purposes. | 8 |
| "Veteran" means an Illinois resident who has served as a
| 9 |
| member of the United States Armed Forces on active duty or
| 10 |
| State active duty, a member of the Illinois National Guard, or
| 11 |
| a member of the United States Reserve Forces and who has | 12 |
| received an honorable discharge.
| 13 |
| (Source: P.A. 95-644, eff. 10-12-07.)
| 14 |
| Section 99. Effective date. This Act takes effect upon | 15 |
| becoming law.
|
|