Date	Chamber	Action
12/3/2014	House	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 200/10-30

35 ILCS 200/10-31

Synopsis As Introduced
Amends the Property Tax Code. Provides that, through December 31, 2015, the assessed valuation of certain platted and subdivided property shall be determined based on the last assessed value assigned to the property prior to its last transfer or conveyance, not including the following transfers and conveyances: (i) the transfer to a holder of a mortgage pursuant to a mortgage foreclosure proceeding or pursuant to a transfer in lieu of foreclosure; (ii) the transfer to an agent or affiliate of a mortgage holder for the purposes of property management following a mortgage foreclosure proceeding or a transfer in lieu of foreclosure; or (iii) an initial sale of any platted lot. Provides that, beginning on January 1, 2016 (instead of January 1, 2012), the assessed valuation of that property shall be determined each year based on the estimated price the property would bring at a fair voluntary sale for use by the buyer for the same purposes for which the property was used when last assessed prior to its platting. Effective immediately.

Actions 

Date	Chamber	Action
2/26/2013	House	Filed with the Clerk by Rep. Robert W. Pritchard
2/26/2013	House	First Reading
2/26/2013	House	Referred to Rules Committee
3/4/2013	House	Assigned to Revenue & Finance Committee
3/22/2013	House	Rule 19(a) / Re-referred to Rules Committee
12/3/2014	House	Session Sine Die

Back To Top