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| [ Engrossed ] | [ Enrolled ] | [ Senate Amendment 001 ] |
90_SB1094
35 ILCS 5/202 from Ch. 120, par. 2-202
35 ILCS 200/15-175
Amends the Illinois Income Tax Act. Makes provisions in
the Section defining net income gender neutral. Amends the
Property Tax Code. Makes provisions in the Section
concerning the homestead exemption gender neutral.
LRB9002118KDks
LRB9002118KDks
1 AN ACT in relation to taxes, amending named Acts.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Illinois Income Tax Act is amended by
5 changing Section 202 as follows:
6 (35 ILCS 5/202) (from Ch. 120, par. 2-202)
7 Sec. 202. Net Income Defined. In general. For purposes of
8 this Act, a taxpayer's net income for a taxable year shall be
9 that portion of his or her base income for such year except
10 money and other benefits, other than salary, received by a
11 driver in a ridesharing arrangement using a motor vehicle,
12 which is allocable to this State under the provisions of
13 Article 3, less the standard exemption allowed by Section 204
14 and the deduction allowed by Section 207.
15 (Source: P.A. 85-731.)
16 Section 10. The Property Tax Code is amended by changing
17 Section 15-175 as follows:
18 (35 ILCS 200/15-175)
19 Sec. 15-175. General homestead exemption. Homestead
20 property is entitled to an annual homestead exemption
21 limited, except as described here with relation to
22 cooperatives, to a reduction in the equalized assessed value
23 of homestead property equal to the increase in equalized
24 assessed value for the current assessment year above the
25 equalized assessed value of the property for 1977, up to the
26 maximum reduction set forth below. If however, the 1977
27 equalized assessed value upon which taxes were paid is
28 subsequently determined by local assessing officials, the
29 Property Tax Appeal Board, or a court to have been excessive,
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1 the equalized assessed value which should have been placed on
2 the property for 1977 shall be used to determine the amount
3 of the exemption.
4 The maximum reduction shall be $4,500 in counties with
5 3,000,000 or more inhabitants and $3,500 in all other
6 counties.
7 "Homestead property" under this Section includes
8 residential property that is occupied by its owner or owners
9 as his, her, or their principal dwelling place, or that is a
10 leasehold interest on which a single family residence is
11 situated, which is occupied as a residence by a person who
12 has an ownership interest therein, legal or equitable or as a
13 lessee, and on which the person is liable for the payment of
14 property taxes. For land improved with an apartment building
15 owned and operated as a cooperative or a building which is a
16 life care facility as defined in Section 15-170 and
17 considered to be a cooperative under Section 15-170, the
18 maximum reduction from the equalized assessed value shall be
19 limited to the increase in the value above the equalized
20 assessed value of the property for 1977, up to the maximum
21 reduction set forth above, multiplied by the number of
22 apartments or units occupied by a person or persons who is
23 liable, by contract with the owner or owners of record, for
24 paying property taxes on the property and is an owner of
25 record of a legal or equitable interest in the cooperative
26 apartment building, other than a leasehold interest. For
27 purposes of this Section, the term "life care facility" has
28 the meaning stated in Section 15-170.
29 In a cooperative where a homestead exemption has been
30 granted, the cooperative association or its management firm
31 shall credit the savings resulting from that exemption only
32 to the apportioned tax liability of the owner who qualified
33 for the exemption. Any person who willfully refuses to so
34 credit the savings shall be guilty of a Class B misdemeanor.
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1 Where married persons maintain and reside in separate
2 residences qualifying as homestead property, each residence
3 shall receive 50% of the total reduction in equalized
4 assessed valuation provided by this Section.
5 The assessor, or chief county assessment officer may
6 determine the eligibility of residential property to receive
7 the homestead exemption by application, visual inspection,
8 questionnaire or other reasonable methods. The determination
9 shall be made in accordance with guidelines established by
10 the Department. In counties with less than 3,000,000
11 inhabitants, if an application is used to determine
12 eligibility, the application shall be mailed to any taxpayer
13 over 65 years of age who has once applied for and been
14 granted an exemption under this Section.
15 (Source: P.A. 87-894; 87-1189; 88-455.)