NEWS

from the Illinois Senate

State Senator Susan Garrett
Majority Caucus Whip, 29th Senate District

FOR IMMEDIATE RELEASE
March 9, 2010

FOR MORE INFORMATION
Susan Garrett (847) 433-2002

LEGISLATION TO HELP RETURNING VETERANS PASSES SENATE
State Senator Susan Garrett leads way to promote veterans returning home

HIGHWOOD, IL— State Senator Susan Garrett (D – Lake Forest) advanced a measure through the Illinois Senate this week that allows veterans returning from war to qualify for a homestead exemption the following year.

The measure allows a veteran returning from armed conflict to apply the returning veterans’ homestead exemption to the following taxable year, provided he or she purchases the house after January 1, and owns and occupies the house as of January 1 of the following year.

“This measure is important because it levels the field for veterans who return home late in the year,” Senator Garrett said. “Under current law, if a soldier returns from conflict and qualifies for the homestead exemption, they must apply it to the same year they return. This puts soldiers returning late in the year at a disadvantage.”

According to the Illinois Department of Veteran’s Affairs, the returning veterans’ homestead exemption provides qualifying veterans a one-time $5,000 reduction to their home’s equalized assessed value (EAV). Qualifying Veterans who return from active duty in an armed conflict involving the U.S. armed forces can file an application upon their return home to receive this exemption. Senator Garrett worked cooperatively with the Veterans Assistance Commission of Lake County to advance this legislation.

“I also want to show my appreciation for the Veterans Assistance Commission of Lake County for approaching me with their concern about this issue,” Senator Garrett added.

Senate Bill 2350 now moves to the House of Representatives where it awaits a vote.