summary
Introduced
02/05/2025
02/05/2025
In Committee
03/21/2025
03/21/2025
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Department of Revenue Law of the Civil Administrative Code of Illinois. Requires eligible school districts to report to the Department of Revenue (i) the total amount of veterans' homestead exemptions granted for the 2024 levy year for property located in the eligible school district and (ii) the total amount of veterans' homestead exemptions granted for the current levy year for property located in the eligible school district. Provides that the Department shall certify the difference, if any, between the current levy year exemption amount and the levy year 2024 exemption amount for each eligible school district. Provides that those amounts shall be transferred from the General Revenue Fund to the Support our Veterans and Neighbors Fund. Provides that an "eligible school district" is a school district that contains residential property that is located within 45 miles of a United States military base. Creates the Support our Veterans and Neighbors Fund. Provides that moneys in the Support our Veterans and Neighbors Fund shall be used to make grants to eligible school districts.
AI Summary
This bill amends the Illinois Department of Revenue Law to create a new mechanism for supporting school districts near military bases through veterans' property tax exemptions. Specifically, the bill requires school districts within 45 miles of a U.S. military base to report the total value of veterans' property tax exemptions for the 2024 levy year and the current levy year. The Department of Revenue will then calculate the difference between these two amounts. If there is a difference, the state will transfer funds from the General Revenue Fund to a newly created "Support our Veterans and Neighbors Fund" equal to that amount. The Department of Veterans' Affairs will then use these funds to provide grants to eligible school districts in the exact amount of the calculated difference. The goal appears to be providing financial support to school districts that have significant numbers of veterans' properties, potentially compensating for potential property tax revenue reductions due to veterans' exemptions. The bill defines key terms like "base amount" and "current taxable year exemption amount" and establishes a systematic annual reporting and transfer process starting in 2026.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Rule 19(a) / Re-referred to Rules Committee (on 03/21/2025)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2828&GAID=18&DocTypeID=HB&SessionID=114&GA=104 |
| BillText | https://www.ilga.gov/legislation/104/HB/10400HB2828.htm |
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