Full Text of SB1379 101st General Assembly
SB1379sam002 101ST GENERAL ASSEMBLY | Sen. Toi W. Hutchinson Filed: 3/26/2019
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| 1 | | AMENDMENT TO SENATE BILL 1379
| 2 | | AMENDMENT NO. ______. Amend Senate Bill 1379, AS AMENDED, | 3 | | by replacing everything after the enacting clause with the | 4 | | following:
| 5 | | "Section 5. The Property Tax Code is amended by adding | 6 | | Division 6 to Article 9 as follows: | 7 | | (35 ILCS 200/Art. 9 Div. 6 heading new) | 8 | | Division 6. Income-Producing Property | 9 | | (35 ILCS 200/9-280 new) | 10 | | Sec. 9-280. Definitions. As used in this Article: | 11 | | "Income and expense data" means annual reports or documents | 12 | | created in the ordinary course of business documenting income | 13 | | generated from and expenses associated with income-producing | 14 | | property. The term "income and expense data" includes Internal | 15 | | Revenue Service Schedule E or Schedule 8825 tax forms, annual |
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| 1 | | reports, rent rolls, and certified or uncertified annual income | 2 | | and expense statements reflecting revenue and costs | 3 | | attributable to the property for the current and immediately | 4 | | preceding calendar year. | 5 | | "Income-producing property" means property that is not | 6 | | exclusively owner-occupied property and is owned for the | 7 | | purpose of generating income from the property itself, whether | 8 | | or not that property actually generates income in a particular | 9 | | year, and includes hotels and motels, parking garages and lots, | 10 | | senior and adult care facilities, and self-storage facilities, | 11 | | but does not include: | 12 | | (1) property with an assessed value of $100,000 or less | 13 | | in the most recent assessment year; | 14 | | (2) residential property containing 6 or fewer | 15 | | dwelling units; | 16 | | (3) property assessed as a farm under Section 10-110 of | 17 | | this Code and improvements or dwellings located on | 18 | | farmland; or | 19 | | (4) property that is assessed by the Department under | 20 | | Article 11 of this Code. | 21 | | "Owner-occupied property" means property that is occupied | 22 | | by the owner of the property or by a related person or entity, | 23 | | as described in subsection (b) of Section 267 of the Internal | 24 | | Revenue Code. | 25 | | "Taxpayer" means the person responsible for paying | 26 | | property taxes on the property or his or her designee. |
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| 1 | | "Property" has the meaning set forth in Section 1-130 of | 2 | | this Code and includes contiguous parcels or property index | 3 | | numbers that comprise one functional property location. | 4 | | (35 ILCS 200/9-281 new) | 5 | | Sec. 9-281. Income-producing properties. | 6 | | (a) In counties with 3,000,000 or more inhabitants, | 7 | | taxpayers of income-producing property shall submit income and | 8 | | expense data annually to the chief county assessment officer on | 9 | | or before July 1 of each year. If a taxpayer is required to | 10 | | submit income and expense data under this Article, the chief | 11 | | county assessment officer shall notify the taxpayer of that | 12 | | fact along with the deadline for the submission of that data. | 13 | | The chief county assessment officer may extend the time within | 14 | | which taxpayers are required to submit income and expense data | 15 | | under this Section for good cause shown in accordance with | 16 | | rules adopted under this Section. | 17 | | If federal tax forms are not complete or available for the | 18 | | most recent tax year by the deadline for the submission of | 19 | | income and expense data under this Section, the taxpayer shall | 20 | | submit federal tax forms for the most recent taxable year for | 21 | | which returns have been filed for the property in question and | 22 | | submit current federal tax forms upon their completion and | 23 | | filing with the Internal Revenue Service. | 24 | | Taxpayers shall certify under oath in a signed attestation | 25 | | that the income and expense data submitted is true, accurate, |
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| 1 | | and complete. | 2 | | (b) In counties with fewer than 3,000,000 inhabitants, the | 3 | | county board may provide by resolution that taxpayers of | 4 | | income-producing property shall submit income and expense data | 5 | | annually to the chief county assessment officer on or before | 6 | | March 30 of each year. If a taxpayer is required to submit | 7 | | income and expense data under this Article, the chief county | 8 | | assessment officer shall notify the taxpayer of that fact along | 9 | | with the deadline for the submission of that data. The chief | 10 | | county assessment officer may extend the time within which | 11 | | taxpayers are required to submit income and expense data under | 12 | | this Section for good cause shown in accordance with rules | 13 | | adopted under this Section. | 14 | | If federal tax forms are not complete or available for the | 15 | | most recent tax year by the deadline for the submission of | 16 | | income and expense data under this Section, the taxpayer shall | 17 | | submit federal tax forms for the most recent taxable year for | 18 | | which returns have been filed for the property in question and | 19 | | submit current federal tax forms upon their completion and | 20 | | filing with the Internal Revenue Service. | 21 | | Taxpayers shall certify under oath in a signed attestation | 22 | | that the income and expense data submitted is true, accurate, | 23 | | and complete. | 24 | | (c) The chief county assessment officer of (i) a county | 25 | | with 3,000,000 or more inhabitants or (ii) a county that has | 26 | | adopted by resolution under the provisions of subsection (b) |
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| 1 | | shall establish rules regarding the submission of income and | 2 | | expense data and the administration of this Section in the | 3 | | county. Income and expense data may be submitted in electronic | 4 | | form. | 5 | | (d) If a taxpayer fails to submit income and expense data | 6 | | as required under this Section, or as required after the | 7 | | adoption of a resolution under this Section, within the time | 8 | | prescribed, or within an extended period as permitted by the | 9 | | chief county assessment officer, the assessor shall send notice | 10 | | to the taxpayer of the failure to comply. If the taxpayer fails | 11 | | to submit the required data within 60 days after such notice is | 12 | | sent, the taxpayer shall pay a penalty to the chief county | 13 | | assessment officer of 0.05% of the prior year's market value, | 14 | | as indicated by the most recent certified assessed value for | 15 | | the property at issue, but in no case shall the taxpayer be | 16 | | obligated to pay more than $100,000 per property. | 17 | | A taxpayer may contest the penalty and requirement to | 18 | | report income and expense data in a particular year and submit | 19 | | evidence to the chief county assessment officer in support of | 20 | | the contention that income and expense data was not required to | 21 | | be submitted or that the submission of income and expense data | 22 | | complies with this requirement based on available | 23 | | documentation. The chief county assessment officer shall | 24 | | review the taxpayer's submission and determine whether the | 25 | | taxpayer provided sufficient evidence indicating that the | 26 | | taxpayer was not required to report income and expense data or |
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| 1 | | that the submission complies based on available documentation. | 2 | | If a taxpayer is dissatisfied with a decision of the chief | 3 | | county assessment officer, a taxpayer may request review of | 4 | | that decision. Upon such a request, at least 30-days' notice | 5 | | shall be provided to the taxpayer of a hearing to be conducted | 6 | | by a hearing officer designated by the chief county assessment | 7 | | officer. If a taxpayer is unsuccessful at hearing, the penalty | 8 | | shall bear interest at 0.05% per month. | 9 | | The State's Attorney of the county in which the property is | 10 | | located shall have power to act on behalf of the people and the | 11 | | chief county assessment officer to initiate or enforce the | 12 | | provisions of this Section, including the power to compel by | 13 | | subpoena the production of taxpayer income and expense data | 14 | | that is required to be produced under this Section. | 15 | | (e) Penalties and interest collected by the chief county | 16 | | assessment officer under this Section for a taxpayer's failure | 17 | | to timely submit income and expense data shall be collected in | 18 | | the same manner as other fees collected by the chief county | 19 | | assessment officer. Such revenue shall be deposited with the | 20 | | county treasurer in the county general fund of the county in | 21 | | which the property is located, with 75% of the revenue to be | 22 | | used for the benefit of the office of the chief county | 23 | | assessment officer and 25% to be used for the benefit of the | 24 | | county. | 25 | | (f) Any personal data such as federal identification or | 26 | | social security numbers and income tax forms that are included |
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| 1 | | in income and expense data produced under this Section shall be | 2 | | deemed private information and exempt from disclosure under the | 3 | | Freedom of Information Act. Non-personal income and expense | 4 | | data shall not be subject to disclosure in accordance with the | 5 | | Freedom of Information Act or other applicable law. Nothing in | 6 | | this Section prohibits a chief county assessment officer from | 7 | | disclosing compiled and anonymized income and expense data. | 8 | | Data that is compiled and anonymized shall not indicate | 9 | | individual property characteristics in a manner that reveals | 10 | | the identity of individual properties. | 11 | | (g) All information received by the chief county assessment | 12 | | officer from income and expense data filed under this Article | 13 | | shall be used only for official purposes. Any person who | 14 | | divulges income and expense data submitted under this Article, | 15 | | other than as permitted in this Article, in accordance with a | 16 | | proper judicial order, or as otherwise provided by law, shall | 17 | | be guilty of a Class B misdemeanor and subject to a fine not to | 18 | | exceed $7,500.
| 19 | | Section 99. Effective date. This Act takes effect upon | 20 | | becoming law.".
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