Illinois General Assembly - Full Text of SB1519
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Full Text of SB1519  98th General Assembly

SB1519sam003 98TH GENERAL ASSEMBLY

Sen. Michael Connelly

Filed: 3/15/2013

 

 


 

 


 
09800SB1519sam003LRB098 08307 HLH 43145 a

1
AMENDMENT TO SENATE BILL 1519

2    AMENDMENT NO. ______. Amend Senate Bill 1519 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Property Tax Code is amended by adding
5Section 18-184.15 as follows:
 
6    (35 ILCS 200/18-184.15 new)
7    Sec. 18-184.15. Tool and manufacturing abatement.
8Beginning in taxable year 2014, any county, municipality,
9village, or township, upon approval of an ordinance or
10resolution, may abate all or a portion of the taxes levied by
11that county, municipality, village, or township on the property
12of a qualified tool and manufacturing business located within
13that county, municipality, village, or township. Following the
14approval of such an ordinance or resolution by a county,
15municipality, village, or township, any taxing district
16located in whole or in part within that county, municipality,

 

 

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1village or township may also abate all or a portion of its
2taxes levied by the taxing district on the property of the
3qualified tool and manufacturing business. Such taxing
4district, upon approval of an ordinance or resolution, abating
5all or a portion of the taxes levied by the taxing district on
6the property of the qualified tool and manufacturing business
7located within the taxing district, shall order the county
8clerk to abate all or a portion of the taxes levied by the
9taxing district on the property of the qualified tool and
10manufacturing business located within the taxing district.
11    "Qualified tool and manufacturing business" means a
12business with (i) fewer than 75 full-time employees and (ii) a
13North American Industrial Classification System (NAICS)
14subsector 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
26property owned by a qualified tool and manufacturing business

 

 

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1and used by that business primarily for tool and manufacturing
2business operations. "Qualified tool and manufacturing
3business property" also includes property leased by a qualified
4tool and manufacturing business and used primarily for tool and
5manufacturing business operations if the qualified tool and
6manufacturing business is liable for paying real property taxes
7on the property. Qualified tool and manufacturing business
8property is considered to be used primarily for tool and
9manufacturing business operations if 75% or more of the gross
10revenue of the tool and manufacturing business is generated
11from tool and manufacturing operations that take place on that
12property during the taxable year.
 
13    Section 99. Effective date. This Act takes effect upon
14becoming law.".