IL HB1239

Creates the Support our Veterans and Neighbors Fund to reimburse school districts for revenue lost due to veterans' homestead exemptions under Sections 15-165, 15-167, and 15-169 of the Property Tax Code

Limits eligibility to school districts containing residential property located within 45 miles of a United States military base

Requires eligible school districts to report annually by March 1 (starting 2024) the total veterans' homestead exemptions granted for the 2022 levy year (base amount) and the current levy year

Directs the Department of Revenue to certify by April 1 the difference between current year exemptions and the 2022 base amount, with that difference transferred from the General Revenue Fund to the new fund

Department of Veterans' Affairs will distribute grants from the fund to eligible school districts equal to the certified difference amount for each district