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Sen. Mike Simmons
Filed: 3/1/2023
| | 10300SB1284sam001 | | LRB103 27037 HLH 57886 a |
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| 1 | | AMENDMENT TO SENATE BILL 1284
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| 2 | | AMENDMENT NO. ______. Amend Senate Bill 1284 by replacing |
| 3 | | everything after the enacting clause with the following:
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| 4 | | "Section 5. The Property Tax Code is amended by adding |
| 5 | | Section 15-173.1 as follows:
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| 6 | | (35 ILCS 200/15-173.1 new) |
| 7 | | Sec. 15-173.1. Homestead exemption for property in a |
| 8 | | county-declared flood damaged area. Beginning with tax year |
| 9 | | 2024, if a geographic area within a county experiences |
| 10 | | excessive flooding in any tax year, the county board of the |
| 11 | | county may, by ordinance, designate that area as a |
| 12 | | county-declared flood damaged area for that tax year. |
| 13 | | Homestead property that is located within a county-declared |
| 14 | | flood damaged area is entitled to a reduction of $5,000 from |
| 15 | | the property's equalized assessed value for the tax year in |
| 16 | | which the area is designated as a county-declared flood |