Full Text of SB0543 96th General Assembly
SB0543sam001 96TH GENERAL ASSEMBLY
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Sen. A. J. Wilhelmi
Filed: 3/25/2009
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| AMENDMENT TO SENATE BILL 543
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| AMENDMENT NO. ______. Amend Senate Bill 543 by replacing | 3 |
| everything after the enacting clause with the following:
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| "Section 5. The Property Tax Code is amended by changing | 5 |
| Section 10-30 and adding Section 10-31 as follows:
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| (35 ILCS 200/10-30)
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| Sec. 10-30. Subdivisions; counties of less than 3,000,000.
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| (a) In counties with less than 3,000,000 inhabitants, the | 9 |
| platting and
subdivision of property into separate lots and the | 10 |
| development of the
subdivided property with streets, | 11 |
| sidewalks, curbs, gutters, sewer, water and
utility lines shall | 12 |
| not increase the assessed valuation of all or any part of
the | 13 |
| property, if:
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| (1) The property is platted and subdivided in | 15 |
| accordance with the Plat
Act;
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| (2) The platting occurs after January 1, 1978;
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| (3) At the time of platting the property is in excess | 2 |
| of 5 acres; and
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| (4) At the time of platting the property is vacant or | 4 |
| used as a farm as
defined in Section 1-60.
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| (b) Except as provided in subsection (c) of this Section, | 6 |
| the assessed
valuation of property so platted and subdivided | 7 |
| shall be determined each year
based on the estimated price the | 8 |
| property would bring at a fair voluntary sale
for use by the | 9 |
| buyer for the same purposes for which the property was used | 10 |
| when
last assessed prior to its platting.
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| (c) Upon completion of a habitable structure on any lot of | 12 |
| subdivided
property, or upon the use of any lot, either alone | 13 |
| or in conjunction
with any contiguous property, for any | 14 |
| business, commercial or residential
purpose, or upon the | 15 |
| initial sale of any platted lot, including a platted
lot which | 16 |
| is vacant: (i) the provisions of subsection (b) of this Section
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| shall no longer apply in determining the assessed valuation of | 18 |
| the lot, (ii)
each lot shall be assessed without regard to any | 19 |
| provision of this Section, and
(iii) the assessed valuation of | 20 |
| the remaining property, when next determined,
shall be reduced | 21 |
| proportionately to reflect the exclusion of the property that
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| no longer qualifies for valuation under this Section. Holding | 23 |
| or offering a
platted lot for initial sale shall not constitute | 24 |
| a use of the lot for
business, commercial or residential | 25 |
| purposes unless a habitable structure is
situated on the lot or | 26 |
| unless the lot is otherwise used for a business,
commercial or |
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| residential purpose.
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| (d) This Section applies before the effective date of this | 3 |
| amendatory Act of the 96th General Assembly and then applies | 4 |
| again beginning January 1, 2012. | 5 |
| (Source: P.A. 95-135, eff. 1-1-08.)
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| (35 ILCS 200/10-31 new)
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| Sec. 10-31. Subdivisions; counties of less than 3,000,000. | 8 |
| (a) In counties with less than 3,000,000 inhabitants, the | 9 |
| platting and
subdivision of property into separate lots and the | 10 |
| development of the
subdivided property with streets, | 11 |
| sidewalks, curbs, gutters, sewer, water and
utility lines shall | 12 |
| not increase the assessed valuation of all or any part of
the | 13 |
| property, if: | 14 |
| (1) The property is platted and subdivided in | 15 |
| accordance with the Plat
Act; | 16 |
| (2) The platting occurs after January 1, 1978; | 17 |
| (3) At the time of platting the property is in excess | 18 |
| of 5 acres; and | 19 |
| (4) At the time of platting or replatting the property | 20 |
| is vacant or used as a farm as
defined in Section 1-60. | 21 |
| (b) Except as provided in subsection (c) of this Section, | 22 |
| the assessed
valuation of property so platted and subdivided | 23 |
| shall be determined
based on the assessed value assigned to the | 24 |
| property when last assessed prior to its last transfer or | 25 |
| conveyance. An initial sale of any platted lot, including a lot |
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| that is vacant, or a transfer to a holder of a mortgage, as | 2 |
| defined in Section 15-1207 of the Code of Civil Procedure, | 3 |
| pursuant to a mortgage foreclosure proceeding or pursuant to a | 4 |
| transfer in lieu of foreclosure, does not disqualify that lot | 5 |
| from the provisions of this subsection (b). | 6 |
| (c) Upon completion of a habitable structure on any lot of | 7 |
| subdivided
property, or upon the use of any lot, either alone | 8 |
| or in conjunction
with any contiguous property, for any | 9 |
| business, commercial or residential
purpose: (i) the | 10 |
| provisions of subsection (b) of this Section
shall no longer | 11 |
| apply in determining the assessed valuation of the lot, (ii)
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| each lot shall be assessed without regard to any provision of | 13 |
| this Section, and
(iii) the assessed valuation of the remaining | 14 |
| property, when next determined,
shall be reduced | 15 |
| proportionately to reflect the exclusion of the property that
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| no longer qualifies for valuation under this Section. Holding | 17 |
| or offering a
platted lot for initial sale shall not constitute | 18 |
| a use of the lot for
business, commercial or residential | 19 |
| purposes unless a habitable structure is
situated on the lot or | 20 |
| unless the lot is otherwise used for a business,
commercial or | 21 |
| residential purpose. The replatting of a subdivision or portion | 22 |
| of a subdivision does not disqualify the replatted lots from | 23 |
| the provisions of subsection (b). | 24 |
| (d) This Section applies on and after the effective date of | 25 |
| this amendatory Act of the 96th General Assembly and through | 26 |
| December 31, 2011.
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| Section 99. Effective date. This Act takes effect upon | 2 |
| becoming law.".
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