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| | 101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
SB3415 Introduced 2/14/2020, by Sen. Cristina Castro SYNOPSIS AS INTRODUCED:
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Amends the Property Tax Code. Provides that property on which a solar energy system is installed is entitled to a 25% reduction in all property taxes levied against the property for the year in which the system is installed. Effective immediately.
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| | | FISCAL NOTE ACT MAY APPLY | | HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY |
| | A BILL FOR |
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| | SB3415 | | LRB101 20336 HLH 69880 b |
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| 1 | | AN ACT concerning revenue.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Property Tax Code is amended by changing |
| 5 | | Section 10-10 as follows:
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| 6 | | (35 ILCS 200/10-10)
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| 7 | | Sec. 10-10. Valuation and taxation of solar energy systems. |
| 8 | | When a solar energy system
has been installed in improvements |
| 9 | | on any property, the owner of that property
is entitled to |
| 10 | | claim, by filing with the chief county assessment officer, an
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| 11 | | alternate valuation of those improvements. When a claim for |
| 12 | | alternate
valuation is filed, the chief county assessment |
| 13 | | officer shall ascertain the
value of the improvements as if |
| 14 | | equipped with a conventional heating or cooling
system and the |
| 15 | | value of the improvements as equipped with the solar energy
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| 16 | | system. So long as the solar energy system is used in total or |
| 17 | | part as the
means of utilizing solar energy improvements, the |
| 18 | | alternate valuation computed
as the lesser of the two values |
| 19 | | ascertained under this paragraph shall be
applied. When the |
| 20 | | solar energy system so valued ceases to be used as the means
of |
| 21 | | heating or cooling those improvements, the owner of that |
| 22 | | property shall
within 30 days notify the chief county |
| 23 | | assessment officer in writing
by certified mail.
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