Bill > SB3042

This bill amends the Property Tax Code to create a new homestead exemption for the surviving spouse of a police officer or firefighter who is killed in the line of duty on or after January 1, 2026. This exemption will provide a reduction of $5,000 from the equalized assessed value of their qualified residence, which is defined as their primary residence with an equalized assessed value under $250,000, as long as they own the property, live there, and do not remarry. The exemption can be transferred to a new primary residence if the surviving spouse sells their current home, and it will continue even if the spouse moves into a licensed nursing home or a U.S. Department of Veterans Affairs facility, provided the property remains unoccupied but owned by them. Firefighters are broadly defined to include those covered by specific pension codes, paramedics, and EMTs employed by local governments, while police officers include municipal police, conservation police officers, sheriffs and deputies, and state law enforcement officers. Taxpayers must reapply annually for this exemption, and assessors can verify eligibility through various methods.

https://www.ilga.gov/Legislation/BillStatus?DocNum=3042&GAID=18&DocTypeID=SB&SessionID=114&GA=104