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| | SB1519 Engrossed | | LRB098 08307 HLH 38411 b |
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1 | | AN ACT concerning revenue.
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2 | | Be it enacted by the People of the State of Illinois,
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3 | | represented in the General Assembly:
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4 | | Section 5. The Property Tax Code is amended by adding |
5 | | Section 18-184.15 as follows: |
6 | | (35 ILCS 200/18-184.15 new) |
7 | | Sec. 18-184.15. Tool and manufacturing abatement. |
8 | | Beginning in taxable year 2014, any county, municipality, |
9 | | village, or township, upon approval of an ordinance or |
10 | | resolution, may abate all or a portion of the taxes levied
by |
11 | | that county, municipality, village, or township on the property |
12 | | of a qualified tool and manufacturing business located within |
13 | | that county, municipality, village, or township. Following the |
14 | | approval of such an ordinance or resolution by a county, |
15 | | municipality, village, or township, any taxing district |
16 | | located in whole or in part within that county, municipality, |
17 | | village or township may also abate all or a portion of its |
18 | | taxes levied by the taxing district on the property of the |
19 | | qualified tool and manufacturing business. Such taxing |
20 | | district, upon approval of an ordinance or resolution, abating |
21 | | all or a portion of the taxes levied by the taxing district on |
22 | | the property of the qualified tool and manufacturing business |
23 | | located within the taxing district, shall order the county |