IL HB2505

Creates a full property tax exemption beginning in taxable year 2025 for police officers and firefighters who suffered duty-related injuries resulting in paraplegia, quadriplegia, dismemberment, or amputation of a limb

Extends the exemption to surviving spouses of police officers or firefighters killed in the line of duty, as long as the spouse does not remarry and maintains the property as their primary residence

Qualifying individuals must currently receive or have received disability benefits under specified sections of the Illinois Pension Code

Exemption applies to properties with an equalized assessed value under $500,000 that are used as a primary residence and not for commercial purposes

Recipients must reapply annually, and the exemption can continue if the qualified person moves to a nursing home or VA facility, with benefits transferable to a surviving spouse's new residence under certain conditions