IL SB3363

Amends the Property Tax Code to redefine "veteran" eligibility for homestead exemptions, requiring service-connected disabilities certified by the U.S. Department of Veterans Affairs for taxable years 2025 and thereafter.

Beginning in 2025, veterans must have a current service-connected disability and be receiving disability compensation to qualify for the exemption, rather than only requiring an honorable discharge as under current law for 2024 and prior years.

Maintains existing exemption amounts based on disability rating: $2,500 for 30-50% disabilities, $5,000 for 50-70% disabilities, and full tax exemption for 70%+ disabilities.

Effective immediately upon enactment.