BIGGINS-CURRIE-HOLBROOK AND MOORE,ANDREA. (RAUSCHENBERGER) 35 ILCS 200/10-40 35 ILCS 200/10-45 35 ILCS 200/10-55 Amends the Property Tax Code with regard to valuation procedures for historic residences. Provides that the Sections concerning the valuation of historic residences shall be cited as the Historic Residence Assessment Freeze Law. Provides that "fair cash value" represents the value of the property prior to the commencement of rehabilitation without consideration of any reduction reflecting value during the rehabilitation work. Provides that "base year valuation" means the value in the year the rehabilitation period begins but prior to the commencement of the rehabilitation and does not include any reduction in value during the rehabilitation work. Provides that the assessment freeze is applicable to the value added by the rehabilitation. Provides that the Director or Revenue shall promptly notify the assessment officer of receipt of applications for certificates of rehabilitation. Provides that the amendatory changes, except the change requiring the Director to notify the assessment officer of receipt of applications, are declarative of existing law. HOUSE AMENDMENT NO. 1. Provides that the assessment freeze shall eliminate from consideration, for assessment purposes, the value added by the rehabilitation and limit the total valuation to the base year valuation (now, the assessment freeze is applicable to the value added by the rehabilitation). 00-01-20 H FIRST READING 00-01-20 H REFERRED TO HOUSE RULES COMMITTEE RULES 00-02-02 H ASSIGNED TO COMMITTEE REVENUE 00-02-02 H ADDED AS A JOINT SPONSOR CURRIE 00-02-08 H ADDED AS A CO-SPONSOR MOORE,ANDREA 00-02-17 H AMENDMENT NO. 01-REVENUE H 00-02-17 H ADOPTED 009-000-000 00-02-17 H DO PASS AMENDED/SHORT DEBATE 009-000-000 HREV 00-02-17 H PLACED CALENDAR 2ND READING-SHORT DEBATE 00-02-22 H SECOND READING-SHORT DEBATE 00-02-22 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 00-02-22 H ADDED AS A JOINT SPONSOR HOLBROOK 00-02-23 H THIRD READING/SHORT DEBATE/PASSED 115-000-000 00-02-24 S ARRIVE IN SENATE 00-02-24 S PLACED CALENDAR ORDER OF FIRST READING 00-02-25 00-02-25 S CHIEF SPONSOR RAUSCHENBERGER 00-02-25 S FIRST READING 00-02-25 S REFERRED TO SENATE RULES COMMITTEE RULES 00-03-09 S ASSIGNED TO COMMITTEE REVENUE 00-03-24 S DO PASS 009-000-000 SREV 00-03-24 S PLACED ON CALENDAR ORDER OF 2ND READING 00-03-28 00-03-29 S SECOND READING 00-03-29 S PLACED ON CALENDAR ORDER OF 3RD READING 00-03-30 00-03-31 S THIRD READING - PASSED 056-000-000 00-03-31 H PASSED BOTH HOUSES 00-04-28 H SENT TO THE GOVERNOR 00-06-13 H GOVERNOR APPROVED 00-06-13 H EFFECTIVE DATE 01-01-01 00-06-13 H PUBLIC ACT.............................. 91-0806 END OF INQUIRY Full Text Bill Summary