IL HB1058

Expands the general homestead exemption to include single-family residences occupied as a principal dwelling by an immediate family member of the property owner, beginning in tax year 2024

Defines "immediate family member" as a parent, grandparent, child, grandchild, or sibling of the property owner

Authorizes chief county assessment officers to require documentation proving the family relationship, including birth certificates, tax returns, or sworn affidavits

Imposes a civil penalty of up to $5,000 for anyone who knowingly misrepresents themselves as an immediate family member when applying for the exemption

Takes effect immediately upon becoming law