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Sen. Michael Connelly
Filed: 3/15/2013
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| 1 | | AMENDMENT TO SENATE BILL 1519
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| 2 | | AMENDMENT NO. ______. Amend Senate Bill 1519 by replacing |
| 3 | | everything after the enacting clause with the following:
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| 4 | | "Section 5. The Property Tax Code is amended by adding |
| 5 | | Section 18-184.15 as follows:
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| 6 | | (35 ILCS 200/18-184.15 new) |
| 7 | | Sec. 18-184.15. Tool and manufacturing abatement. |
| 8 | | Beginning in taxable year 2014, any county, municipality, |
| 9 | | village, or township, upon approval of an ordinance or |
| 10 | | resolution, may abate all or a portion of the taxes levied
by |
| 11 | | that county, municipality, village, or township on the property |
| 12 | | of a qualified tool and manufacturing business located within |
| 13 | | that county, municipality, village, or township. Following the |
| 14 | | approval of such an ordinance or resolution by a county, |
| 15 | | municipality, village, or township, any taxing district |
| 16 | | located in whole or in part within that county, municipality, |
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| 1 | | village or township may also abate all or a portion of its |
| 2 | | taxes levied by the taxing district on the property of the |
| 3 | | qualified tool and manufacturing business. Such taxing |
| 4 | | district, upon approval of an ordinance or resolution, abating |
| 5 | | all or a portion of the taxes levied by the taxing district on |
| 6 | | the property of the qualified tool and manufacturing business |
| 7 | | located within the taxing district, shall order the county |
| 8 | | clerk to abate all or a portion of the taxes levied by the |
| 9 | | taxing district on the property of the qualified tool and |
| 10 | | manufacturing business located within the taxing district. |
| 11 | | "Qualified tool and manufacturing business" means a |
| 12 | | business with (i) fewer than 75 full-time employees and (ii) a |
| 13 | | North American Industrial Classification System (NAICS) |
| 14 | | subsector classification of: |
| 15 | | Plastics and Rubber Products Manufacturing (326); |
| 16 | | Primary Metal Manufacturing (331); |
| 17 | | Fabricated Metal Product Manufacturing (332); |
| 18 | | Machinery Manufacturing (333); |
| 19 | | Computer and Electronic Product Manufacturing (334); |
| 20 | | Electrical Equipment, Appliance, and Component |
| 21 | | Manufacturing (335); |
| 22 | | Transportation Equipment Manufacturing (336); |
| 23 | | Furniture and Related Product Manufacturing (337); or |
| 24 | | Miscellaneous Manufacturing (339). |
| 25 | | "Qualified tool and manufacturing business property" means |
| 26 | | property owned by a qualified tool and manufacturing business |
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| 1 | | and used by that business primarily for tool and manufacturing |
| 2 | | business operations. "Qualified tool and manufacturing |
| 3 | | business property" also includes property leased by a qualified |
| 4 | | tool and manufacturing business and used primarily for tool and |
| 5 | | manufacturing business operations if the qualified tool and |
| 6 | | manufacturing business is liable for paying real property taxes |
| 7 | | on the property. Qualified tool and manufacturing business |
| 8 | | property is considered to be used primarily for tool and |
| 9 | | manufacturing business operations if 75% or more of the gross |
| 10 | | revenue of the tool and manufacturing business is generated |
| 11 | | from tool and manufacturing operations that take place on that |
| 12 | | property during the taxable year.
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| 13 | | Section 99. Effective date. This Act takes effect upon |
| 14 | | becoming law.".
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