IL HB5833

County clerk shall abate school district property taxes on qualified homestead property owned by taxpayers age 65 or older with annual household income of $35,000 or less for the previous taxable year.

Qualified homestead property is defined as a single or two-family residential property that serves as the principal residence of an eligible senior citizen.

County clerk shall establish a procedure for eligible senior citizens to apply for the tax abatement.

State Board of Education shall reimburse school districts for revenue lost due to the abatement, subject to appropriation.

Implementation of the mandate does not require state reimbursement to local units of government under the State Mandates Act, and the act takes effect immediately upon becoming law.