IL HB2828

Creates the Support our Veterans and Neighbors Fund to reimburse school districts for revenue lost due to veterans' homestead exemptions under Sections 15-165, 15-167, and 15-169 of the Property Tax Code

Eligible school districts must contain residential property located within 45 miles of a United States military base

Requires eligible school districts to report annually to the Department of Revenue by March 1, starting in 2026, the total veterans' homestead exemptions for the 2024 levy year (base amount) and the current levy year

Department of Revenue must certify by April 1 each year the difference between current year exemptions and the 2024 base amount, triggering a transfer from the General Revenue Fund to the new fund

Department of Veterans' Affairs will distribute grants to eligible school districts equal to the certified difference in exemption amounts