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91_HB1904
LRB9103471PTpk
1 AN ACT concerning property taxes.
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
5 Section 18-165 as follows:
6 (35 ILCS 200/18-165)
7 Sec. 18-165. Abatement of taxes.
8 (a) Any taxing district, upon a majority vote of its
9 governing authority, may, after the determination of the
10 assessed valuation of its property, order the clerk of that
11 county to abate any portion of its taxes on the following
12 types of property:
13 (1) Commercial and industrial.
14 (A) The property of any commercial or
15 industrial firm, including but not limited to the
16 property of any firm that is used for collecting,
17 separating, storing, or processing recyclable
18 materials, locating within the taxing district
19 during the immediately preceding year from another
20 state, territory, or country, or having been newly
21 created within this State during the immediately
22 preceding year, or expanding an existing facility.
23 The abatement shall not exceed a period of 10 years
24 and the aggregate amount of abated taxes for all
25 taxing districts combined shall not exceed
26 $4,000,000; or
27 (B) The property of any commercial or
28 industrial development of at least 500 acres having
29 been created within the taxing district. The
30 abatement shall not exceed a period of 20 years and
31 the aggregate amount of abated taxes for all taxing
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1 districts combined shall not exceed $12,000,000.
2 (C) The property of any commercial or
3 industrial firm currently located in the taxing
4 district that expands a facility or its number of
5 employees. The abatement shall not exceed a period
6 of 10 years and the aggregate amount of abated taxes
7 for all taxing districts combined shall not exceed
8 $4,000,000. The abatement period may be renewed at
9 the option of the taxing districts.
10 (2) Horse racing. Any property in the taxing
11 district which is used for the racing of horses and upon
12 which capital improvements consisting of expansion,
13 improvement or replacement of existing facilities have
14 been made since July 1, 1987. The combined abatements
15 for such property from all taxing districts in any county
16 shall not exceed $5,000,000 annually and shall not exceed
17 a period of 10 years.
18 (3) Auto racing. Any property designed exclusively
19 for the racing of motor vehicles. Such abatement shall
20 not exceed a period of 10 years.
21 (4) Academic or research institute. The property
22 of any academic or research institute in the taxing
23 district that (i) is an exempt organization under
24 paragraph (3) of Section 501(c) of the Internal Revenue
25 Code, (ii) operates for the benefit of the public by
26 actually and exclusively performing scientific research
27 and making the results of the research available to the
28 interested public on a non-discriminatory basis, and
29 (iii) employs more than 100 employees. An abatement
30 granted under this paragraph shall be for at least 15
31 years and the aggregate amount of abated taxes for all
32 taxing districts combined shall not exceed $5,000,000.
33 (5) Housing for older persons. Any property in the
34 taxing district that is devoted exclusively to affordable
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1 housing for older households. For purposes of this
2 paragraph, "older households" means those households (i)
3 living in housing provided under any State or federal
4 program that the Department of Human Rights determines is
5 specifically designed and operated to assist elderly
6 persons and is solely occupied by persons 55 years of age
7 or older and (ii) whose annual income does not exceed 80%
8 of the area gross median income, adjusted for family
9 size, as such gross income and median income are
10 determined from time to time by the United States
11 Department of Housing and Urban Development. The
12 abatement shall not exceed a period of 15 years, and the
13 aggregate amount of abated taxes for all taxing districts
14 shall not exceed $3,000,000.
15 (b) Upon a majority vote of its governing authority, any
16 municipality may, after the determination of the assessed
17 valuation of its property, order the county clerk to abate
18 any portion of its taxes on any property that is located
19 within the corporate limits of the municipality in accordance
20 with Section 8-3-18 of the Illinois Municipal Code.
21 (c) Beginning in taxable year 1999, a taxing district
22 must, after the determination of the assessed valuation of
23 its property, order the clerk of the county in which the
24 property is located to abate the taxes of property allowed
25 the senior citizens homestead exemption under Section 15-170
26 according to the provisions of this subsection.
27 If the individual qualifying for the senior citizens
28 homestead exemption has an adjusted gross income for federal
29 income tax purposes of less than $24,000 and the qualifying
30 property has an equalized assessed value of less than
31 $100,000, then the taxes on that property must be abated in
32 the amount of 5% for each year that the qualifying individual
33 is over the age of 65 with a maximum abatement of 50%.
34 (Source: P.A. 89-561, eff. 1-1-97; 90-46, eff. 7-3-97;
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1 90-415, eff. 8-15-97; 90-568, eff. 1-1-99; 90-655, eff.
2 7-30-98.)
3 Section 90. The State Mandates Act is amended by adding
4 Section 8.23 as follows:
5 (30 ILCS 805/8.23 new)
6 Sec. 8.23. Exempt mandate. Notwithstanding Sections 6
7 and 8 of this Act, no reimbursement by the State is required
8 for the implementation of any mandate created by this
9 amendatory Act of the 91st General Assembly.
10 Section 99. Effective date. This Act takes effect upon
11 becoming law.