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
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
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
LRB104 06193 HLH 16228 b
A BILL FOR
HB1238LRB104 06193 HLH 16228 b HB1238 LRB104 06193 HLH 16228 b
HB1238 LRB104 06193 HLH 16228 b
1 AN ACT concerning revenue.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Property Tax Code is amended by adding
5 Section 15-190 as follows:
6 (35 ILCS 200/15-190 new)
7 Sec. 15-190. Residential affordability in flood threatened
8 areas homestead exemption.
9 (a) Beginning in taxable year 2026, subject to the
10 limitations set forth in subsection (b), a homestead exemption
11 shall be granted by the chief county assessment officer for
12 homestead property that is located within a special flood
13 hazard area as identified by the Federal Emergency Management
14 Agency. The amount of the exemption shall be a reduction in the
15 property's equalized assessed value of $5,000.
16 (b) Homestead property is not eligible for the exemption
17 under this Section if:
18 (1) construction of the primary residence on the
19 property was initially completed on or after the date on
20 which the property was first included in the special flood
21 hazard area; or
22 (2) the property is owned and used as the primary
23 residence of a person or persons whose household income
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
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
LRB104 06193 HLH 16228 b
A BILL FOR
35 ILCS 200/15-190 new
LRB104 06193 HLH 16228 b
HB1238 LRB104 06193 HLH 16228 b
HB1238- 2 -LRB104 06193 HLH 16228 b HB1238 - 2 - LRB104 06193 HLH 16228 b
HB1238 - 2 - LRB104 06193 HLH 16228 b
1 exceeds 120% of the area median income as defined by the
2 United States Department of Housing and Urban Development.
3 (c) To receive the exemption under this Section, the
4 taxpayer shall submit an application to the chief county
5 assessment officer of the county in which the property is
6 located by July 1 of each taxable year. A county may, by
7 resolution, establish a date for submission of applications
8 that is different than July 1. The chief county assessment
9 officer may determine the eligibility of residential property
10 to receive the homestead exemption under this Section by
11 application, visual inspection, questionnaire, or other
12 reasonable methods.
13 (d) The application shall be clearly marked as an
14 application for the Residential Affordability in Flood
15 Threatened Areas Exemption.
16 (e) As used in this Section:
17 "Chief county assessment officer" means the county
18 assessor or supervisor of assessments of the county in which
19 the property is located.
20 "Homestead property" has the meaning given to that term in
21 Section 15-175 of this Code.
22 "Household" means the applicant, the spouse of the
23 applicant, and all persons using the residence of the
24 applicant as their principal place of residence.
25 "Household income" means the combined income of the
26 members of a household for the calendar year preceding the
HB1238 - 2 - LRB104 06193 HLH 16228 b
HB1238- 3 -LRB104 06193 HLH 16228 b HB1238 - 3 - LRB104 06193 HLH 16228 b
HB1238 - 3 - LRB104 06193 HLH 16228 b
1 taxable year.
2 (f) Notwithstanding Sections 6 and 8 of the State Mandates
3 Act, no reimbursement by the State is required for the
4 implementation of any mandate created by this Section.
HB1238 - 3 - LRB104 06193 HLH 16228 b