SB2428 Summary

• Amends the Property Tax Code to allow chief county assessment officers to require applicants for leasehold exemptions under five homestead exemption programs to meet conditions specified in Section 15-175 (general homestead exemption).

• Specifies that lessees are not required to pay property taxes directly to the county collector, only be liable for payment under lease terms.

• Applies to leasehold exemptions under the returning veterans' homestead exemption, homestead exemption for persons with disabilities, homestead exemption for veterans with disabilities, senior citizens homestead exemption, and senior citizens assessment freeze homestead exemption.

• Updates lease language requirements to reference "property taxes" instead of "real estate taxes" and clarify applicable statutory sections across the affected exemption programs.

• Becomes effective immediately upon enactment.