IL HB5063

Exempts veterans with a 100% service-connected disability from needing to reapply annually for the homestead exemption for disabled veterans, after initial approval.

Extends the same lifetime exemption benefit to surviving spouses of 100% disabled veterans who qualify under existing provisions.

Allows county assessment officers to automatically approve the exemption for 2020 and 2021 taxable years for properties previously approved, if the county declared a COVID-19 disaster and ownership remained unchanged.

Maintains existing exemption amounts based on disability rating: $2,500 for 30-50% disabled, $5,000 for 50-70% disabled, and full property tax exemption for 70% or more disabled veterans.

Takes effect immediately upon becoming law.