93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB6690


 
Introduced 02/09/04, by Joe Dunn
 
SYNOPSIS AS INTRODUCED:
 		













35 ILCS 250/25









    Amends the Longtime Owner-Occupant Property Tax Relief Act.  Makes a
technical change in a Section concerning retroactive application of the Act.
















LRB093 19813 SJM 45556 b

















 


 


A BILL FOR









 











HB6690

LRB093 19813 SJM 45556 b






1
    AN ACT concerning property taxes. 

 
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    Be it enacted by the People of the State of Illinois, 
3
represented in the General Assembly: 


 
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    Section 5. The Longtime Owner-Occupant Property Tax Relief 
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Act is amended by
changing Section 25 as follows:


 
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    (35 ILCS 250/25)

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    Sec. 25. Retroactive application.   The corporate 
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authorities of any
a
county to which this Act applies may use 
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any county record or other
information that predates the 
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effective date of this Act by up to 5 years
for the purpose of 
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determining whether an increase in the market value of a

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longtime owner-occupant's principal residence is a consequence 
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of the
refurbishing or renovating of other residences or the 
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construction of new
residences in long-established residential 
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areas or areas of deteriorated,
vacant, or abandoned homes and 
16
properties.


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(Source: P.A. 88-451.)