IL SB2317

Lowers the service-connected disability rating threshold for 100% property tax exemption from 70% to 60% for taxable years 2024 and thereafter.

Creates a new subsection (b-4) effective for taxable years 2024 and beyond establishing tiered exemptions: $2,500 for 30-50% disabilities, $5,000 for 50-60% disabilities, and full exemption for 60% or higher disabilities.

Limits subsection (b-3) to taxable years 2015 through 2023, with the new (b-4) provisions applying to 2024 and subsequent years.

Extends full property tax exemption to surviving spouses of veterans whose death was service-connected and who receive dependency and indemnity compensation from the U.S. Department of Veterans Affairs.

Takes effect immediately upon becoming law.