Revenue Committee

Filed: 2/16/2006





09400HB4175ham001 LRB094 14779 BDD 55650 a


2     AMENDMENT NO. ______. Amend House Bill 4175 by replacing
3 everything after the enacting clause with the following:
4     "Section 5. The Property Tax Code is amended by adding
5 Section 10-148 as follows:
6     (35 ILCS 200/10-148 new)
7     Sec. 10-148. Assessment of wooded land.
8     (a) If, during the 2005 taxable year, any parcel of wooded
9 land was valued based upon its productivity index equalized
10 assessed value as cropland, then the Department of Revenue must
11 accept any similar valuation of that wooded land for the 2006
12 and 2007 taxable years.
13     (b) For the purpose of this Section, "wooded land" means
14 any parcel of unimproved real property that: (i) does not
15 qualify as cropland, permanent pasture, other farmland, or
16 wasteland under Section 10-125 of the Property Tax Code; and
17 (ii) is not managed under a forestry management plan and
18 considered to be other farmland under Section 10-150 of the
19 Property Tax Code.
20     Section 99. Effective date. This Act takes effect upon
21 becoming law.".