Bill Status of HB5097 102nd General Assembly
Short Description: PROP TX-INDOOR MALL
Rep. Rita Mayfield
| 2/18/2022||House||Rule 19(a) / Re-referred to Rules Committee|
Statutes Amended In Order of Appearance
|35 ILCS 200/Art. 10 Div. 21 heading new|
Synopsis As Introduced
Amends the Property Tax Code. Provides that, in a county that classifies property for the purposes of taxation, a taxpayer that is liable for the payment of real property taxes on property containing an indoor shopping mall may apply with the chief county assessment officer to have that property classified in the same manner as a warehouse located in the county. Provides that, to receive the classification, the owner of the indoor shopping mall must offer rent to all of its tenants that is below market value for commercial space in the geographic area, as determined by the chief county assessment officer. Preempts the concurrent exercise of home rule powers.