IL SB3139

Amends the Property Tax Code Section 15-169 to expand the definition of "veteran" for homestead exemption purposes to include veterans who have received a medical discharge.

Maintains existing homestead exemption amounts based on service-connected disability ratings: $2,500 for 30-50% disabilities, $5,000 for 50-70% disabilities, and full property tax exemption for 70% or higher disabilities (taxable year 2015 and thereafter).

Extends property tax exemption eligibility to surviving spouses of service-connected deceased veterans who receive dependency and indemnity compensation, effective taxable year 2023 and thereafter.

Exempts veterans with 100% combined service-connected disability ratings deemed permanently and totally disabled from annual reapplication requirements for the homestead exemption, effective May 23, 2022.

Allows county assessment officers to automatically approve the exemption for 2020 and 2021 taxable years without new applications for properties previously approved in prior years, provided the county declared a COVID-19 disaster and ownership remained unchanged.