96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB3912


 
Introduced 2/26/2009, by Rep. Rich Brauer
 
SYNOPSIS AS INTRODUCED:
 		













35 ILCS 200/10-146 new










    Amends the Property Tax Code. Provides that, beginning with the 2009 taxable year, all barns that were first placed in service more than 75 years before the first day of the taxable year and are located in areas zoned for agriculture shall have an assessed value of zero. Effective immediately.
















LRB096 11722 HLH 22444 b

















HOME RULE NOTE ACT MAY APPLY


HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











HB3912

LRB096 11722 HLH 22444 b






1
    AN ACT concerning revenue.

 
2
    Be it enacted by the People of the State of Illinois,
 
3
represented in the General Assembly:


 
4
    Section 5. The Property Tax Code is amended  by adding 
5
Section 10-146 as follows:

 
6
    (35 ILCS 200/10-146 new)

7
    Sec. 10-146. Valuation of barns that are more than 75 years 
8
old and located in areas zoned for agriculture.
9
    (a) Beginning with the 2009 taxable year, all barns that 
10
were first placed in service more than 75 years before  the 
11
first day of the taxable year and are located in areas zoned 
12
for agriculture shall have an assessed value of zero.
13
    (b) For purposes of this Section, "barn" means an 
14
agricultural structure, in whatever shape or design, that is 
15
used for the storage of farm products or feed or for the 
16
housing of farm animals or farm equipment. 
 

17
    Section 99. Effective date. This Act takes effect upon 
18
becoming law.