William B. Black
Filed: 02/19/04
 
 

 




 

 		












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AMENDMENT TO SENATE BILL 1498 




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    AMENDMENT NO. ______. Amend Senate Bill 1498, AS AMENDED, 
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with reference to page and line numbers of House Amendment No. 
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7, on page 8, by replacing lines 29 through 31 with the 
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following:
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"the payment of property taxes. Before taxable year 2004, the 
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maximum reduction shall be $2,500 in counties with 3,000,000 or 
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more inhabitants and $2,000 in all other counties. For taxable 
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years 2004 and thereafter, the maximum reduction shall be 
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$2,500 in all counties. For land improved with an"; and
  
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on page 12, by replacing lines 20 through 22 with the 
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following:
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    Except as provided in Section 15-176, the maximum reduction 
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before taxable year 2004 shall be
$4,500 in counties with 
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3,000,000 or more
inhabitants
and $3,500 in all other counties. 
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For taxable years 2004 and thereafter, the maximum reduction 
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shall be $4,500 for all counties."; and 

 
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on page 15, by replacing lines 13 and 14 with the following:
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        "the current tax year minus (i) $4,500 in Cook County 
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        or $3,500 in all other counties in tax year 2003 or 
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        (ii) $4,500 in all counties in tax year 2004 and 
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        thereafter."; and 

 
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on page 15, by replacing lines 19 and 20 with the following:
 


 






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        "exemptions, minus (i) $4,500 in Cook County or $3,500 
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        in all other counties in tax year 2003 or (ii) $4,500 
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        in all counties in tax year 2004 and thereafter, 
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        provided that it was assessed for"; and 
 
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on page 16, by replacing line 2 with the following:
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    "(i) $4,500 in Cook County or $3,500 in all other counties 
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    in tax year 2003 or (ii) $4,500 in all counties in tax year 
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    2004 and thereafter,"; and 
 
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on page 17, by replacing line 22, with the following:
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"less (i) $4,500 in Cook County or $3,500 in all other counties 
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    in tax year 2003 or (ii) $4,500 in all counties in tax year 
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    2004 and thereafter, is"; and
 
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on page 18, by replacing lines 23 and 24 with the following:
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    "limited to the amount of (i) $4,500 in Cook County or 
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    $3,500 in all other counties in tax year 2003 or (ii) 
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    $4,500 in all counties in tax year 2004 and thereafter."; 
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    and 
 
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on page 49, by replacing lines 2 and 3 with the following:
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under Section 15-176 was (i) $4,500 in Cook County or $3,500 in 
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all other counties in tax year 2003 or (ii) $4,500 in all 
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counties in tax year 2004 and thereafter. The county clerk of 
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any count subject to the".