IL HB2471

Provides State income tax refunds to veterans with disabilities who qualify for the homestead exemption in the year after purchase if no exemption was granted in the purchase year, beginning with taxable year 2017.

Requires automatic renewal of the homestead exemption for veterans with disabilities in subsequent years without requiring reapplication.

Adds definition of "year of purchase" as the tax year in which a veteran bought a qualified residence.

Effective immediately upon becoming law.