IL SB1530

Creates a $5,000 homestead property tax exemption for surviving spouses of police officers or firefighters killed in the line of duty, effective for taxable year 2024 and beyond.

Exemption applies to qualified residences with equalized assessed values under $250,000 that are owned and occupied as the surviving spouse's primary residence.

Exemption continues if the surviving spouse relocates and can be transferred to a new primary residence, but terminates if the spouse remarries.

Exemption persists if the surviving spouse moves into a nursing home or Veterans Affairs facility while still owning the unoccupied property.

Defines "firefighter" to include paramedics and EMTs employed by local government, and "police officer" to include municipal police, conservation officers, sheriffs, and state law enforcement personnel.