Bill Title: Amends the Property Tax Code. In provisions concerning the homestead exemption for veterans with disabilities, provides that, beginning in tax year 2023, if the veteran has a service connected disability of 70% or more, and his or her property has an equalized assessed value that is equal to or greater than the maximum allowable amount for the tax year, then the property is considered qualified property and is exempt from taxation under the Code up to the maximum allowable amount for the tax year. Indexes the maximum allowable amount to the percentage increase, if any, in the Consumer Price Index. Effective immediately.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2022-02-18 - Rule 19(a) / Re-referred to Rules Committee [HB5101 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2022-01-27	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB5101

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB5101 currently on file.