Full Text of SB3455 103rd General Assembly
SB3455sam001 103RD GENERAL ASSEMBLY | Sen. Robert F. Martwick Filed: 4/5/2024 | | 10300SB3455sam001 | | LRB103 36901 HLH 71890 a |
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| 1 | | AMENDMENT TO SENATE BILL 3455
| 2 | | AMENDMENT NO. ______. Amend Senate Bill 3455 by replacing | 3 | | everything after the enacting clause with the following: | 4 | | "Section 5. The Department of Revenue Law of the Civil | 5 | | Administrative Code of Illinois is amended by adding Section | 6 | | 2505-815 as follows: | 7 | | (20 ILCS 2505/2505-815 new) | 8 | | Sec. 2505-815. Property tax system study. The Department, | 9 | | in consultation with the Department of Commerce and Economic | 10 | | Opportunity, shall conduct a study to evaluate the property | 11 | | tax system in the State and shall analyze any information | 12 | | collected in connection with that study. The Department may | 13 | | also examine whether the existing property tax levy, | 14 | | assessment, appeal, and collection process is reasonable and | 15 | | fair and may issue recommendations to improve that process. | 16 | | For purposes of conducting the study and analyzing the data |
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| 1 | | required under this Section, the Department may determine the | 2 | | scope of the historical data necessary to complete the study, | 3 | | but in no event shall the scope or time period be less than the | 4 | | 10 most recent tax years for which the Department has complete | 5 | | data. The study shall include, but need not be limited to, the | 6 | | following: | 7 | | (1) a comprehensive review of the classification | 8 | | system used by Cook County in assessing real property in | 9 | | Cook County compared with the rest of the State, | 10 | | including, but not limited to, a projection of the impact, | 11 | | if any, that the assessment of real property in Cook | 12 | | County would exhibit if the classification system were to | 13 | | be phased-out and transitioned to a uniform level of | 14 | | assessment, and the impact, if any, that the Cook County | 15 | | classification system has or has had on economic | 16 | | development or job creation in the county; | 17 | | (2) a comprehensive review of State laws concerning | 18 | | the appeal of assessments at the local and State level and | 19 | | State laws concerning the collection of property taxes, | 20 | | including any issues that have resulted in delays in | 21 | | issuing property tax bills; | 22 | | (3) a comprehensive review of statewide assessment | 23 | | processes, including a comparison of assessment process in | 24 | | Cook County and other counties and practices in other | 25 | | states that allow for standardized assessment processes; | 26 | | (4) a comprehensive review of current property tax |
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| 1 | | homestead exemptions, the impact of those exemptions, and | 2 | | the administration or application of those exemptions; | 3 | | (5) an analysis of preferential assessments or | 4 | | incentives, including, but not limited to, the resultant | 5 | | economic impact from preferential assessments; and | 6 | | (6) a review of the State's reliance on property taxes | 7 | | and the historical growth in property tax levies. | 8 | | The Department may consult with Illinois institutions of | 9 | | higher education in conducting the study required under this | 10 | | Section. The Department may also consult with units of local | 11 | | government. To the extent practicable and where applicable, | 12 | | the Department may request relevant, publicly available | 13 | | property tax information from units of local government, | 14 | | including counties and municipalities, that is deemed | 15 | | necessary to complete the study required pursuant to this | 16 | | Section. Units of local government that are required to submit | 17 | | property tax information to the Department must do so in a | 18 | | reasonably expedient manner, to the extent possible, but in no | 19 | | event later than 60 days after the date upon which the | 20 | | Department requests that relevant information. | 21 | | The Department may complete a preliminary report that may | 22 | | be made available for public inspection via electronic means | 23 | | prior to the publication of the final report under this | 24 | | Section. The Department shall complete and submit the final | 25 | | report under this Section to the Governor and the General | 26 | | Assembly by July 1, 2026. A copy of both the preliminary |
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| 1 | | report, if made available by the Department, and the final | 2 | | report shall be made available to the public via electronic | 3 | | means. The Department may allow for the submission of public | 4 | | comments from individuals, organizations, or associations | 5 | | representing residential property owners, commercial property | 6 | | owners, units of local government, or labor unions in Illinois | 7 | | prior to finalizing the final report under this Section and | 8 | | after publication of the final report under this Section. If | 9 | | the Department allows for the submission of public comments, | 10 | | the Department shall publish via electronic means any and all | 11 | | materials submitted to the Department. | 12 | | This Section is repealed on December 31, 2026. ". |
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