SB 1975

Abstract

Amends the Property Tax Code. Provides that the chief county assessment officer in a county of more than 3,000,000 residents, and in any other county where the county board has authorized such action by ordinance or resolution, may automatically renew the homestead exemption for persons with disabilities without application for any person who applied for the exemption and presented a Disability Identification Card stating that the claimant is under a Class 2 disability. Senate Committee Amendment No. 1 Adds provisions to the introduced bill providing that an applicant for the homestead exemption for persons with disabilities may be examined by an optometrist if the person qualifies because of a visual disability. Provides that provisions of the introduced bill concerning automatic renewal (i) apply for taxable years 2021 through 2026 and (ii) apply if the person presents proof of eligibility (in the introduced bill, a Disability Identification Card stating that the claimant is under a Class 2 disability). Provides that the chief county assessment officer shall not automatically renew the homestead exemption for persons with disabilities if the physician, advanced practice registered nurse, optometrist, or physician assistant who examined the claimant determined that the disability is not expected to continue for 12 months or more. House Committee Amendment No. 3 Adds reference to: 20 ILCS 2505/2505-805 new 35 ILCS 200/9-275 35 ILCS 200/15-10 35 ILCS 200/15-169 35 ILCS 200/15-170 35 ILCS 200/15-172 35 ILCS 200/15-175 35 ILCS 200/18-185 35 ILCS 200/18-190.7 new 105 ILCS 5/17-1.3 new 105 ILCS 5/17-2A from Ch. 122, par. 17-2A 320 ILCS 30/3 from Ch. 67 1/2, par. 453 Replaces everything after the enacting clause. Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that, for levy years 2022 and later, the taxing district's aggregate extension base is the greater of (A) the district's last preceding aggregate extension limit or (B) the district's last preceding aggregate extension, subject to certain adjustments. Provides that the term "aggregate extension limit" means the district's last preceding aggregate extension if the taxing district had utilized the maximum limiting rate permitted without referendum for each of the 5 immediately preceding levy years. Provides that the maximum reduction under the General Homestead Exemption is $10,000 in counties with 3,000,000 or more inhabitants and counties that are contiguous to a county of 3,000,000 or more inhabitants and $6,000 in all other counties (currently, $10,000 in counties with 3,000,000 or more inhabitants and $6,000 in all other counties). Provides that the maximum reduction under the senior citizens homestead exemption is $8,000 in counties with 3,000,000 or more inhabitants and counties that are contiguous to a county of 3,000,000 or more inhabitants and $5,000 in all other counties (currently, $8,000 in counties with 3,000,000 or more inhabitants and $5,000 in all other counties). In provisions concerning the homestead exemption for veterans with disabilities, makes changes concerning the surviving spouse. Provides that the interest rate under the Senior Citizens Real Estate Tax Deferral Act is reduced from 6% to 4%. Amends the School Code. Contains provisions concerning interfund transfers and disclosure of cash reserve balances. Amends the Department of Revenue Law of the Civil Administrative Code of Illinois to require the Department of Revenue to conduct a study concerning the homestead exemption for veterans with disabilities. Effective immediately. House Floor Amendment No. 5 Makes changes to the bill as amended by House Amendment No. 3 to provide that the maximum amount of the general homestead exemption is $10,000 in counties with 3,000,000 or more inhabitants, $8,000 in counties that are contiguous to a county of 3,000,000 or more inhabitants, and $6,000 in all other counties (rather than $10,000 in counties with 3,000,000 or more inhabitants and counties that are contiguous to a county of 3,000,000 or more inhabitants and $6,000 in all other counties).