Revenue & Finance Committee
Filed: 3/12/2009
 
 

 




 

 		












09600HB4120ham001

LRB096 11805 HLH 23678 a






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AMENDMENT TO HOUSE BILL 4120




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    AMENDMENT NO. ______. Amend House Bill 4120 by replacing 
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everything after the enacting clause with the following:


 
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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.  Upon a 
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majority vote of its governing body, any taxing district may, 
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after the determination of the assessed valuation of its 
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property, order the county clerk
to abate any portion of its 
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taxes on any property if (i)  a new business first occupies a 
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facility located on the property during the taxable year, and 
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(ii) the facility was vacant for  a period of at least 24 
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continuous months prior to being occupied by the business.  The 
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abatement shall not exceed a period of 5 years and the 
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aggregate amount of abated taxes for all taxing districts 
 


 






09600HB4120ham001
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LRB096 11805 HLH 23678 a




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combined shall not exceed $4,000,000.".