Bill Status of SB 694   93rd General Assembly

Short Description:  PROP TAX-DEVELOPMENT-EXEMPTION

Senate Sponsors
Sen. Larry D. Woolard

Last Action  View All Actions

DateChamber Action
  1/11/2005SenateSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 200/15-157 new

Synopsis As Introduced
Amends the Property Tax Code. Provides that, beginning in taxable year 2003, all property of regional economic development corporations that is used exclusively for the charitable and public purpose of creating, facilitating, and encouraging economic development is exempt from property taxation. Defines "economic development corporation" as a not-for-profit corporation that receives more than 75% of its funding from taxing districts. Effective immediately.

Actions 
DateChamber Action
  2/19/2003SenateFiled with Secretary by Sen. Larry D. Woolard
  2/19/2003SenateFirst Reading
  2/19/2003SenateReferred to Rules
  2/26/2003SenateAssigned to Revenue
  3/6/2003SenateHeld in Revenue
  3/13/2003SenatePostponed - Revenue
  3/14/2003SenateRule 3-9(a) / Re-referred to Rules
  1/11/2005SenateSession Sine Die

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