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90_HB2383
35 ILCS 200/Art. 10, Division 10, heading new
35 ILCS 200/10-230 new
35 ILCS 200/23-23 new
Amends the Property Tax Code. Provides that during the
transition period established under the Public Utilities Act
for the deregulation of the generation of electricity the
assessed valuation of electric generating stations shall be
frozen at the valuation for tax year 1995. Authorizes
subsequent reduction of 5% per year. Limits total reduction
to 80% of the 1995 valuation. Effective immediately.
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1 AN ACT to amend the Property Tax Code by adding Sections
2 10-230 and 23-23.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Property Tax Code is amended by adding
6 Sections 10-230 and 23-23 as follows:
7 (35 ILCS 200/Art. 10, Division 10, heading new)
8 DIVISION 10. ELECTRIC POWER GENERATING STATIONS
9 (35 ILCS 200/10-230 new)
10 Sec. 10-230. Electric generating stations.
11 (a) During the mandatory transition period as defined in
12 Article XVI of the Public Utilities Act, the assessed
13 valuation for any parcel improved with an electric generating
14 station shall be frozen at the value assessed by the county
15 board of review, if located in a county having fewer than
16 2,000,000 inhabitants, or by the county assessor, if located
17 in a county having 2,000,000 or more inhabitants, for tax
18 year 1995 notwithstanding any appeal of the assessment to the
19 Property Tax Appeal Board or any court of competent
20 jurisdiction. The assessed valuation, however, may be
21 increased due to the construction of improvements completed
22 after January 1, 1995.
23 (b) Upon the expiration of the mandatory transition
24 period as defined in Article XVI of the Public Utilities Act,
25 the assessed valuation for any parcel improved with an
26 electric generating station shall be established in
27 accordance with this Code. In the event of a reduction in
28 the assessed valuation of the parcel, however, the assessed
29 valuation may be reduced by no more than 5% in any particular
30 year and may in no event be reduced to less than 80% of the
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1 assessed value of the parcel for tax year 1995 for all
2 subsequent years in which the electric generating station
3 generates electricity for distribution and sale unless the
4 electric generating station is a nuclear electric generating
5 station. If the electric generating station is a nuclear
6 electric generating station, the assessed valuation of the
7 parcel may not be reduced to less than 80% of the assessed
8 value of the parcel for tax year 1995 before the nuclear
9 electric generating station is decommissioned, its license
10 issued by the U.S. Nuclear Regulatory Commission is
11 terminated, and the parcel is released for unrestricted use
12 as defined by federal law.
13 (35 ILCS 200/23-23 new)
14 Sec. 23-23. With respect to any tax year beginning prior
15 to the effective date of this amendatory Act of 1997, a
16 public utility, as defined in Section 3-105 of the Public
17 Utilities Act, is not eligible or entitled to a refund of ad
18 valorem property taxes extended upon any parcel improved with
19 an electric generating station based upon a claim of
20 excessive or unlawful assessment or unlawful classification
21 of property for ad valorem taxation purposes.
22 Section 99. Effective date. This Act takes effect upon
23 becoming law.