IL HB4817

Eliminates annual reapplication requirement for veterans with 100% service-connected disabilities in compliant counties, making the homestead exemption permanent as long as eligibility continues.

Defines "compliant county" as one where the Department of Revenue certifies the chief county assessment officer actively enforces provisions distinguishing between properties with equalized assessed values below $250,000 and those at or above $250,000.

Maintains existing exemption amounts: $2,500 for 30-50% disability, $5,000 for 50-70% disability, and full exemption from taxation for 70% or more disability (as certified by the U.S. Department of Veterans Affairs).

Allows automatic approval of exemptions for 2020 and 2021 taxable years without reapplication for veterans previously approved in 2019 and 2020, respectively, if specified conditions are met including county disaster declarations related to COVID-19.

Takes effect immediately upon enactment.