Bill Status of HB5435 102nd General Assembly
Short Description: PROP TX-MANUFACTURING ZONES
Rep. Deanne M. Mazzochi
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 municipalities and counties may establish manufacturing zones. Provides that, with respect to property that is owned or controlled by the owner or operator of a manufacturing facility that is located within a manufacturing zone, the assessed valuation of any capital investment in the property made by the owner or operator for the purpose of carrying out a manufacturing process for any taxable year in which the manufacturing zone is in effect shall be $0. Effective immediately.