Bill Text: IL HB4125 | 2017-2018 | 100th General Assembly | Introduced
Bill Title: Amends the Property Tax Code. Creates the Natural Disaster Home Repair Assistance Homestead Exemption. Creates a homestead exemption for homestead property that meets the following criteria: (1) the property sustains damage as a result a natural disaster occurring in assessment year 2017 or any assessment year thereafter; and (2) the homeowner incurs costs to repair that damage during the assessment year for which the exemption is sought. Provides that the exemption is a reduction in the equalized assessed value of the property in an amount equal to the costs incurred by the homeowner, but not to exceed $5,000 per year. Effective immediately.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Failed) 2019-01-08 - Session Sine Die [HB4125 Detail]
Download: Illinois-2017-HB4125-Introduced.html
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1 | AN ACT concerning revenue.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Property Tax Code is amended by changing | ||||||||||||||||||||||||||
5 | Section 15-173 and by adding Section 15-173.5 as follows:
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6 | (35 ILCS 200/15-173) | ||||||||||||||||||||||||||
7 | Sec. 15-173. Natural Disaster Homestead Exemption. | ||||||||||||||||||||||||||
8 | (a) This Section may be cited as the Natural Disaster | ||||||||||||||||||||||||||
9 | Homestead Exemption. | ||||||||||||||||||||||||||
10 | (b) As used in this Section: | ||||||||||||||||||||||||||
11 | "Base amount" means the base year equalized assessed value | ||||||||||||||||||||||||||
12 | of the residence. | ||||||||||||||||||||||||||
13 | "Base year" means the taxable year prior to the taxable | ||||||||||||||||||||||||||
14 | year in which the natural disaster occurred. | ||||||||||||||||||||||||||
15 | "Chief county assessment officer" means the County | ||||||||||||||||||||||||||
16 | Assessor or Supervisor of
Assessments of the county in which | ||||||||||||||||||||||||||
17 | the property is located. | ||||||||||||||||||||||||||
18 | "Equalized assessed value" means the assessed value as | ||||||||||||||||||||||||||
19 | equalized by the
Illinois Department of Revenue. | ||||||||||||||||||||||||||
20 | "Homestead property" has the meaning ascribed to that term | ||||||||||||||||||||||||||
21 | in Section 15-175 of this Code. | ||||||||||||||||||||||||||
22 | "Natural disaster" means an occurrence of widespread or | ||||||||||||||||||||||||||
23 | severe damage or loss of property
resulting from any |
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1 | catastrophic cause including but not limited to fire, flood, | ||||||
2 | earthquake, wind, storm, or extended period of severe inclement | ||||||
3 | weather. In the case of a residential
structure affected by | ||||||
4 | flooding, the structure shall not be eligible for this
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5 | homestead improvement exemption unless it is located within a | ||||||
6 | local
jurisdiction which is participating in the National Flood | ||||||
7 | Insurance Program. A proclamation of disaster by the President | ||||||
8 | of the United States or Governor of the State of Illinois is | ||||||
9 | not a prerequisite to the classification of an occurrence as a | ||||||
10 | natural disaster under this Section. | ||||||
11 | (c) A
homestead exemption shall be granted by the chief | ||||||
12 | county assessment officer for homestead properties containing | ||||||
13 | a residential structure that has been
rebuilt following a | ||||||
14 | natural disaster occurring in taxable year 2012 or any taxable | ||||||
15 | year thereafter. The amount of the exemption is the equalized | ||||||
16 | assessed value of the residence in the first taxable year for | ||||||
17 | which the taxpayer applies for an exemption under this Section | ||||||
18 | minus the base amount. To be eligible for an exemption
under | ||||||
19 | this Section: (i) the residential structure must
be rebuilt | ||||||
20 | within 2 years after the date of the natural disaster; and (ii) | ||||||
21 | the square footage of the rebuilt residential structure may not | ||||||
22 | be more than 110% of the square footage of the original | ||||||
23 | residential structure as it existed immediately prior to the | ||||||
24 | natural disaster. The taxpayer's initial application for an | ||||||
25 | exemption under this Section must be made no later than the | ||||||
26 | first taxable year after the residential structure is rebuilt. |
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1 | The exemption shall continue at the same annual amount until | ||||||
2 | the taxable year in which the property is sold or transferred. | ||||||
3 | (d) To receive the exemption, the taxpayer shall submit an | ||||||
4 | application to the chief county assessment officer of the | ||||||
5 | county in which the property is located by July 1 of each | ||||||
6 | taxable year. A county may, by resolution, establish a date for | ||||||
7 | submission of applications that is different than July 1. The | ||||||
8 | chief county assessment officer may require additional
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9 | documentation to be provided by the applicant. The applications | ||||||
10 | shall be clearly marked as applications for the Natural | ||||||
11 | Disaster Homestead Exemption. | ||||||
12 | (e) Property is not eligible for an exemption under this | ||||||
13 | Section , Section 15-173.5, and Section 15-180 for the same | ||||||
14 | natural disaster or catastrophic event. The property may, | ||||||
15 | however, remain eligible for an additional exemption under | ||||||
16 | Section 15-180 for any separate event occurring after the | ||||||
17 | property qualified for an exemption under this Section. | ||||||
18 | (f) The exemption under this Section carries over to the | ||||||
19 | benefit of the surviving spouse as long as the spouse holds the | ||||||
20 | legal or beneficial title to the homestead and permanently | ||||||
21 | resides thereon. | ||||||
22 | (g) Notwithstanding Sections 6 and 8 of the State Mandates | ||||||
23 | Act, no reimbursement by the State is required for the | ||||||
24 | implementation of any mandate created by this Section.
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25 | (Source: P.A. 97-716, eff. 6-29-12.)
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1 | (35 ILCS 200/15-173.5 new) | ||||||
2 | Sec. 15-173.5. Natural Disaster Home Repair Assistance | ||||||
3 | Homestead Exemption. | ||||||
4 | (a) This Section may be cited as the Natural Disaster Home | ||||||
5 | Repair Assistance Homestead Exemption. | ||||||
6 | (b) As used in this Section: | ||||||
7 | "Chief county assessment officer" means the county | ||||||
8 | assessor or supervisor of assessments of the county in which | ||||||
9 | the property is located. | ||||||
10 | "Homestead property" has the meaning given to that term in | ||||||
11 | Section 15-175 of this Code. | ||||||
12 | "Natural disaster" means an occurrence of widespread or | ||||||
13 | severe damage or loss of property resulting from any | ||||||
14 | catastrophic cause including, but not limited to, fire, flood, | ||||||
15 | earthquake, wind, storm, or extended period of severe inclement | ||||||
16 | weather. In the case of a residential structure affected by | ||||||
17 | flooding, the structure shall not be eligible for this | ||||||
18 | homestead exemption unless it is located within a local | ||||||
19 | jurisdiction which is participating in the National Flood | ||||||
20 | Insurance Program. A proclamation of disaster by the President | ||||||
21 | of the United States or Governor of the State of Illinois is | ||||||
22 | not a prerequisite to the classification of an occurrence as a | ||||||
23 | natural disaster under this Section. | ||||||
24 | (c) A homestead exemption, limited to a reduction from the | ||||||
25 | property's equalized assessed value as set forth in subsection | ||||||
26 | (e), shall be granted by the chief county assessment officer |
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1 | for homestead property that meets the following criteria: | ||||||
2 | (1) the property sustains damage as a result a natural | ||||||
3 | disaster occurring in assessment year 2017 or any | ||||||
4 | assessment year thereafter; and | ||||||
5 | (2) the homeowner incurs costs to repair that damage | ||||||
6 | during the assessment year for which the exemption is | ||||||
7 | sought. | ||||||
8 | (d) To be eligible for an exemption under this Section: | ||||||
9 | (1) the property must be repaired within 3 years after | ||||||
10 | the date of the natural disaster; and | ||||||
11 | (2) the repairs must be made demonstrably as a result | ||||||
12 | of the damage caused by the natural disaster to the | ||||||
13 | property and shall not represent a homestead improvement, | ||||||
14 | as provided under Section 15-180, of the original | ||||||
15 | residential structure as it existed immediately prior to | ||||||
16 | the natural disaster. | ||||||
17 | (e) The amount of the reduction shall be the amount of the | ||||||
18 | costs incurred by the homeowner, but in no event shall the | ||||||
19 | amount of the exemption exceed $5,000 per year. | ||||||
20 | (d) To receive the exemption, the taxpayer shall submit an | ||||||
21 | application to the chief county assessment officer of the | ||||||
22 | county in which the property is located by July 1 of each | ||||||
23 | taxable year. A county may, by resolution, establish a date for | ||||||
24 | submission of applications that is different than July 1. The | ||||||
25 | chief county assessment officer may require additional | ||||||
26 | documentation to be provided by the applicant in order to |
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1 | establish the value of the exemption and reasonably ascertain | ||||||
2 | that the exemption applied for under this Section is awarded | ||||||
3 | for repairs made on a property as a result of the natural | ||||||
4 | disaster. The applications shall be clearly marked as | ||||||
5 | applications for the Natural Disaster Home Repair Assistance | ||||||
6 | Homestead Exemption. | ||||||
7 | (e) Property is not eligible for an exemption under this | ||||||
8 | Section, Section 15-173, and Section 15-180 for the same | ||||||
9 | natural disaster. The property may, however, remain eligible | ||||||
10 | for an additional exemption under Section 15-173 or Section | ||||||
11 | 15-180 for any separate event occurring after the property | ||||||
12 | qualified for an exemption under this Section. | ||||||
13 | (f) Notwithstanding Sections 6 and 8 of the State Mandates | ||||||
14 | Act, no reimbursement by the State is required for the | ||||||
15 | implementation of any mandate created by this Section.
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16 | Section 99. Effective date. This Act takes effect upon | ||||||
17 | becoming law.
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