Bill > SB2920

This bill amends the Property Tax Code to create a new homestead exemption for police officers and firefighters who have suffered a duty-related injury resulting in severe physical impairments like paraplegia, quadriplegia, dismemberment, or amputation, and who receive or received a disability benefit. This exemption applies to property used as a qualified residence, meaning it's owned and occupied as the primary home with an equalized assessed value under $500,000 and not used for commercial purposes for more than six months. The exemption can continue for a surviving spouse if they remain unmarried and occupy the home, or if the home remains unoccupied but owned by them, and can even be transferred to a new primary residence under certain conditions. The bill also defines "firefighter" and "police officer" broadly to include various related professions and specifies that eligible individuals must provide proof of their qualifying injury and reapply annually. This new exemption will be effective for taxable year 2027 and takes effect immediately upon becoming law.

Budget and Finance

https://www.ilga.gov/Legislation/BillStatus?DocNum=2920&GAID=18&DocTypeID=SB&SessionID=114&GA=104