Full Text of HB3120 99th General Assembly
HB3120 99TH GENERAL ASSEMBLY |
| | 99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016 HB3120 Introduced , by Rep. Tom Demmer SYNOPSIS AS INTRODUCED: |
| 35 ILCS 200/Art. 10 Div. 18 heading | | 35 ILCS 200/10-600 | | 35 ILCS 200/10-610 | | 35 ILCS 200/10-625 new | |
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Amends the Property Tax Code. Provides that a Division of the Code concerning wind energy property assessment also applies to solar energy devices. Effective immediately.
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| | | FISCAL NOTE ACT MAY APPLY | |
| | A BILL FOR |
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| 1 | | AN ACT concerning revenue.
| 2 | | Be it enacted by the People of the State of Illinois,
| 3 | | represented in the General Assembly:
| 4 | | Section 5. The Property Tax Code is amended by changing the | 5 | | heading of Division 18 of Article 10 and Sections 10-600 and | 6 | | 10-610 and by adding Section 10-625 as follows: | 7 | | (35 ILCS 200/Art. 10 Div. 18 heading) | 8 | | DIVISION 18.
RENEWABLE WIND ENERGY PROPERTY ASSESSMENT
| 9 | | (Source: P.A. 95-644, eff. 10-12-07; 95-876, eff. 8-21-08.) | 10 | | (35 ILCS 200/10-600) | 11 | | Sec. 10-600. Definitions. For the purposes of this Division | 12 | | 18: | 13 | | "Renewable energy device" means any wind energy device or | 14 | | solar energy device, as defined in this section. | 15 | | "Wind energy device" means any device, with a
nameplate | 16 | | capacity of at least 0.5 megawatts, that is used in the process | 17 | | of converting kinetic energy from the wind to generate electric | 18 | | power for commercial sale. | 19 | | "Solar energy device" means any single device, with a | 20 | | nameplate capacity of at least 0.5 megawatts, that uses | 21 | | photovoltaic cells and panels to convert energy from the sun | 22 | | into electricity that is not primarily consumed by the solar |
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| 1 | | energy device owner. | 2 | | " Wind energy device 2007 real property cost basis" excludes | 3 | | personal property but represents both the land and real | 4 | | property improvements of a wind energy device and means | 5 | | $360,000 per megawatt of nameplate capacity. | 6 | | "Solar energy device real property cost basis" excludes | 7 | | personal property but represents both the land and real | 8 | | property improvements of a solar energy device. Solar energy | 9 | | device real property cost basis shall be equivalent to 20% of | 10 | | the original cost reduced by the value of any investment tax | 11 | | credits, production tax credits, or cash grants in lieu of | 12 | | investment tax credits applicable to the renewable energy | 13 | | device, as certified by the Department of Revenue. | 14 | | "Trending factor" means a number equal to the consumer | 15 | | price index (U.S. city average all items) published by the | 16 | | Bureau of Labor Statistics for the December immediately | 17 | | preceding the assessment date, divided by the consumer price | 18 | | index (U.S. city average all items) published by the Bureau of | 19 | | Labor Statistics for December 2006. | 20 | | "Trended real property cost basis" means the renewable | 21 | | energy device 2007 real property cost basis multiplied by the | 22 | | trending factor. | 23 | | "Allowance for physical depreciation" means (i) the actual | 24 | | age in years of the renewable wind energy device on the | 25 | | assessment date divided by 25 years multiplied by (ii) its the | 26 | | trended real property cost basis. The physical depreciation, |
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| 1 | | however, may not reduce the value of the renewable wind energy | 2 | | device to less than 30% of its the trended real property cost | 3 | | basis.
| 4 | | (Source: P.A. 95-644, eff. 10-12-07.) | 5 | | (35 ILCS 200/10-610) | 6 | | Sec. 10-610. Applicability. | 7 | | (a) The provisions of this Division apply for assessment | 8 | | years 2007 through 2026 2016 . | 9 | | (b) The provisions of this Division do not apply to | 10 | | renewable wind energy devices that are owned by any person or | 11 | | entity that is otherwise exempt from taxation under the | 12 | | Property Tax Code.
| 13 | | (Source: P.A. 95-644, eff. 10-12-07; 96-1036, eff. 1-1-11.) | 14 | | (35 ILCS 200/10-625 new) | 15 | | Sec. 10-625. Certification of solar energy device real | 16 | | property cost basis. Within 60 days after completion of | 17 | | construction of a solar energy device, the owner of the solar | 18 | | energy device shall provide documentation to the Department of | 19 | | Revenue demonstrating the solar energy device real property | 20 | | cost basis. Solar energy device real property cost basis shall | 21 | | include the total cost of the solar energy device, not | 22 | | including any costs of site-selection, site-development, staff | 23 | | or personnel, or other ancillary costs. Within 60 days of | 24 | | receiving the documentation from the solar energy device owner, |
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| 1 | | the Department shall certify the solar energy device real | 2 | | property cost basis to the owner in writing.
| 3 | | Section 99. Effective date. This Act takes effect upon | 4 | | becoming law.
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