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: | ||||||
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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