IL HB5553

Increases the minimum assessed value for homes qualifying for the disabled veterans property tax exemption from $70,000 to $100,000.

Extends the disabled veterans standard homestead exemption to veterans who were killed in the line of duty, eliminating the requirement that they qualified for the exemption before death.

Allows surviving spouses of veterans killed in the line of duty to claim the homestead exemption without the veteran having previously obtained it.

Takes effect immediately upon becoming law.