IL HB0961

Extends the period during which senior citizens homestead exemptions do not require annual reapplication in counties with 3,000,000+ inhabitants from taxable years 2020-2024 to taxable years 2019-2023.

Extends the period for audits of senior homestead exemptions in large counties and the period during which the assessment officer must send death notices to terminate exemptions from taxable years 2020-2024 to taxable years 2019-2023.

Establishes procedures for erroneous homestead exemptions in large counties, including grace periods, lien requirements, interest charges (10% per annum), and penalties (up to 50% for repeat offenders).

Requires county assessment officers in counties with 3,000,000+ inhabitants to include information about available exemptions, current exemptions on the property, and grace period notices with assessment notices during general assessment years.

Creates an amnesty period from the effective date through December 31, 2013 for taxpayers owing taxes due to erroneous homestead exemptions granted before 2013, allowing full payment without interest or penalties.