96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB4120


 
Introduced 2/27/2009, by Rep. Mark L. Walker
 
SYNOPSIS AS INTRODUCED:
 		













35 ILCS 200/18-184.5 new










    Amends the Property Tax Code.  Provides that any taxing district may order the county clerk
to abate its taxes on any property if (i)  a new business first occupies a facility located on the property during the taxable year, and (ii) the facility was vacant for  a period of at least 24 continuous months prior to being occupied by the business.
















LRB096 11805 HLH 22641 b

















FISCAL NOTE ACT MAY APPLY


HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











HB4120

LRB096 11805 HLH 22641 b






1
    AN ACT concerning revenue.

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


 
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    Section 5. The Property Tax Code is amended  by adding 
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Section 18-184.5 as follows:
 
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    (35 ILCS 200/18-184.5  new)
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    Sec. 18-184.5. Abatement for vacant facilities.  Any taxing 
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district may order the county clerk
to abate its taxes on any 
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property if (i)  a new business first occupies a facility 
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located on the property during the taxable year, and (ii) the 
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facility was vacant for  a period of at least 24 continuous 
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months prior to being occupied by the business.