Illinois 2025-2026 Regular Session

Illinois House Bill HB1238 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1238 Introduced , by Rep. Maurice A. West, II SYNOPSIS AS INTRODUCED: 35 ILCS 200/15-190 new Amends the Property Tax Code. Creates a homestead exemption, subject to certain limitations, for property that is located within a special flood hazard area as identified by the Federal Emergency Management Agency. Provides that the amount of the exemption shall be a reduction in the property's equalized assessed value of $5,000. Effective immediately. LRB104 06193 HLH 16228 b A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1238 Introduced , by Rep. Maurice A. West, II SYNOPSIS AS INTRODUCED: 35 ILCS 200/15-190 new 35 ILCS 200/15-190 new Amends the Property Tax Code. Creates a homestead exemption, subject to certain limitations, for property that is located within a special flood hazard area as identified by the Federal Emergency Management Agency. Provides that the amount of the exemption shall be a reduction in the property's equalized assessed value of $5,000. Effective immediately. LRB104 06193 HLH 16228 b LRB104 06193 HLH 16228 b A BILL FOR
2	2	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1238 Introduced , by Rep. Maurice A. West, II SYNOPSIS AS INTRODUCED:
3	3	35 ILCS 200/15-190 new 35 ILCS 200/15-190 new
4	4	35 ILCS 200/15-190 new
5	5	Amends the Property Tax Code. Creates a homestead exemption, subject to certain limitations, for property that is located within a special flood hazard area as identified by the Federal Emergency Management Agency. Provides that the amount of the exemption shall be a reduction in the property's equalized assessed value of $5,000. Effective immediately.
6	6	LRB104 06193 HLH 16228 b LRB104 06193 HLH 16228 b
7	7	LRB104 06193 HLH 16228 b
8	8	A BILL FOR
9	9	HB1238LRB104 06193 HLH 16228 b HB1238 LRB104 06193 HLH 16228 b
10	10	HB1238 LRB104 06193 HLH 16228 b
11	11	1 AN ACT concerning revenue.
12	12	2 Be it enacted by the People of the State of Illinois,
13	13	3 represented in the General Assembly:
14	14	4 Section 5. The Property Tax Code is amended by adding
15	15	5 Section 15-190 as follows:
16	16	6 (35 ILCS 200/15-190 new)
17	17	7 Sec. 15-190. Residential affordability in flood threatened
18	18	8 areas homestead exemption.
19	19	9 (a) Beginning in taxable year 2026, subject to the
20	20	10 limitations set forth in subsection (b), a homestead exemption
21	21	11 shall be granted by the chief county assessment officer for
22	22	12 homestead property that is located within a special flood
23	23	13 hazard area as identified by the Federal Emergency Management
24	24	14 Agency. The amount of the exemption shall be a reduction in the
25	25	15 property's equalized assessed value of $5,000.
26	26	16 (b) Homestead property is not eligible for the exemption
27	27	17 under this Section if:
28	28	18 (1) construction of the primary residence on the
29	29	19 property was initially completed on or after the date on
30	30	20 which the property was first included in the special flood
31	31	21 hazard area; or
32	32	22 (2) the property is owned and used as the primary
33	33	23 residence of a person or persons whose household income
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37	37	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1238 Introduced , by Rep. Maurice A. West, II SYNOPSIS AS INTRODUCED:
38	38	35 ILCS 200/15-190 new 35 ILCS 200/15-190 new
39	39	35 ILCS 200/15-190 new
40	40	Amends the Property Tax Code. Creates a homestead exemption, subject to certain limitations, for property that is located within a special flood hazard area as identified by the Federal Emergency Management Agency. Provides that the amount of the exemption shall be a reduction in the property's equalized assessed value of $5,000. Effective immediately.
41	41	LRB104 06193 HLH 16228 b LRB104 06193 HLH 16228 b
42	42	LRB104 06193 HLH 16228 b
43	43	A BILL FOR
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49	49	35 ILCS 200/15-190 new
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68	68	1 exceeds 120% of the area median income as defined by the
69	69	2 United States Department of Housing and Urban Development.
70	70	3 (c) To receive the exemption under this Section, the
71	71	4 taxpayer shall submit an application to the chief county
72	72	5 assessment officer of the county in which the property is
73	73	6 located by July 1 of each taxable year. A county may, by
74	74	7 resolution, establish a date for submission of applications
75	75	8 that is different than July 1. The chief county assessment
76	76	9 officer may determine the eligibility of residential property
77	77	10 to receive the homestead exemption under this Section by
78	78	11 application, visual inspection, questionnaire, or other
79	79	12 reasonable methods.
80	80	13 (d) The application shall be clearly marked as an
81	81	14 application for the Residential Affordability in Flood
82	82	15 Threatened Areas Exemption.
83	83	16 (e) As used in this Section:
84	84	17 "Chief county assessment officer" means the county
85	85	18 assessor or supervisor of assessments of the county in which
86	86	19 the property is located.
87	87	20 "Homestead property" has the meaning given to that term in
88	88	21 Section 15-175 of this Code.
89	89	22 "Household" means the applicant, the spouse of the
90	90	23 applicant, and all persons using the residence of the
91	91	24 applicant as their principal place of residence.
92	92	25 "Household income" means the combined income of the
93	93	26 members of a household for the calendar year preceding the
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104	104	1 taxable year.
105	105	2 (f) Notwithstanding Sections 6 and 8 of the State Mandates
106	106	3 Act, no reimbursement by the State is required for the
107	107	4 implementation of any mandate created by this Section.
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