IL HB5929

Expands homestead exemption eligibility for veterans killed in the line of duty, allowing their surviving spouses to claim exemptions even if the veteran was not an Illinois resident at time of death, beginning in taxable year 2024.

Eliminates the requirement that surviving spouses of veterans killed in the line of duty must have been Illinois residents from the veteran's death through the taxable year for which the exemption is sought.

Expands the definition of "veteran" for taxable years 2024 and thereafter to include persons who served in the U.S. Armed Forces, National Guard of any state or territory, or Reserve Forces and were killed in the line of duty, regardless of discharge status.

Provides full property tax exemption for World War II veterans on qualified residences beginning in taxable year 2024, regardless of disability level.

Exempts veterans with 70% or greater service-connected disability ratings on the first $250,000 in equalized assessed value of their primary residence beginning in taxable year 2023.