IL HB4335

Amends the Property Tax Code Section 15-169 to allow remarried surviving spouses of disabled veterans to retain the homestead exemption beginning with taxable year 2024 and thereafter.

For taxable years before 2024, a surviving spouse loses the exemption if they remarry; the bill removes this restriction starting in 2024.

Surviving spouse must hold legal or beneficial title to the homestead and permanently reside on the property to qualify for the carried-over exemption.

If a surviving spouse sells the property, an exemption equal to the most recent ad valorem tax roll amount may transfer to a new primary residence, but only if the spouse does not remarry.

Effective immediately upon enactment.