IL HB2950

Creates a homestead exemption equal to 50% of equalized assessed value for surviving spouses of fallen police officers and rescue workers, effective for taxable year 2024.

Exemption applies only if surviving spouse continues to reside in the qualified residence and does not remarry.

Exemption continues if surviving spouse moves to a nursing home or Department of Veterans Affairs facility while still owning the residence.

Surviving spouse must reapply annually during the county's application period, with eligibility determined by the assessor or chief county assessment officer.

"Fallen police officer or rescue worker" means an individual who dies in the course of employment as a police officer or while in active service of fire, rescue, or emergency medical service, excluding deaths from willful misconduct or drug/alcohol abuse.