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90_HB0045enr
30 ILCS 805/8.21 new
35 ILCS 200/15-180
Amends the Property Tax Code to increase the maximum
homestead improvement exemption to $45,000 beginning January
1, 1998. Amends the State Mandates Act to exempt this
amendatory Act from the reimbursement requirements of the
State Mandates Act. Effective immediately.
LRB9000700KRks
HB0045 Enrolled LRB9000700KRks
1 AN ACT in relation to taxation.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The State Mandates Act is amended by adding
5 Section 8.21 as follows:
6 (30 ILCS 805/8.21 new)
7 Sec. 8.21. Notwithstanding Sections 6 and 8 of this Act,
8 no reimbursement by the State is required for the
9 implementation of any mandate created by this amendatory Act
10 of 1997.
11 Section 10. The Property Tax Code is amended by changing
12 Section 15-180 as follows:
13 (35 ILCS 200/15-180)
14 Sec. 15-180. Homestead improvements. Homestead
15 properties that have been improved are entitled to a
16 homestead improvement exemption, limited to $30,000 per year
17 through December 31, 1997, and $45,000 beginning January 1,
18 1998 and thereafter, in fair cash value, when that property
19 is owned and used exclusively for a residential purpose and
20 upon demonstration that a proposed increase in assessed value
21 is attributable solely to a new improvement of an existing
22 structure. The amount of the exemption shall be limited to
23 the fair cash value added by the new improvement and shall
24 continue for 4 years from the date the improvement is
25 completed and occupied, or until the next following general
26 assessment of that property, whichever is later.
27 In counties of less than 3,000,000 inhabitants, in
28 addition to the notice requirement under Section 12-30, a
29 supervisor of assessments, county assessor, or township or
HB0045 Enrolled -2- LRB9000700KRks
1 multi-township assessor responsible for adding an assessable
2 improvement to a residential property's assessment shall
3 either notify a taxpayer whose assessment has been changed
4 since the last preceding assessment that he or she may be
5 eligible for the exemption provided under this Section or
6 shall grant the exemption automatically.
7 (Source: P.A. 88-455; 89-595, eff. 1-1-97.)
8 Section 99. Effective date. This Act takes effect upon
9 becoming law.