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92_HB3651
LRB9210021SMdv
1 AN ACT concerning 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 adding
5 Section 10-360 as follows:
6 (35 ILCS 200/10-360 new)
7 Sec. 10-360. Service organization assessment freeze.
8 (a) For the taxable year 2002 and thereafter, the
9 assessed value of real property owned and used by the Lions
10 Club, or its subordinate organization or entity, that is
11 exempt under Section 501(c) of the Internal Revenue Code and
12 whose members provide, directly or indirectly, financial
13 support for charitable works shall be established by the
14 chief county assessment officer as follows:
15 (1) if the property meets the qualifications set
16 forth in this Section on January 1, 2002 and on January 1
17 of each subsequent assessment year, for assessment year
18 2002 and each subsequent assessment year, the final
19 assessed value of the property shall be 15% of the final
20 assessed value of the property for the assessment year
21 2001; or
22 (2) if the property first meets the qualifications
23 set forth in this Section on January 1 of any assessment
24 year after assessment year 2002 and on January 1 of each
25 subsequent assessment year, for that first assessment
26 year and each subsequent assessment year, the final
27 assessed value shall be 15% of the final assessed value
28 of the property for the assessment year in which the
29 property first meets the qualifications set forth in this
30 Section.
31 If, in any year, additions or improvements are made to
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1 property subject to assessment under this Section and the
2 additions or improvements would increase the assessed value
3 of the property, then 15% of the final assessed value of the
4 additions or improvements shall be added to the final
5 assessed value of the property for the year in which the
6 additions or improvements are completed and for all
7 subsequent years that the property is eligible for assessment
8 under this Section.
9 (b) For purposes of this Section, "final assessed value"
10 means the assessed value after final board of review action.
11 (c) Service organizations whose property is assessed
12 under this Section must annually submit an application to the
13 chief county assessment officer on or before (i) January 31
14 of the assessment year in counties with a population of
15 3,000,000 or more and (ii) December 31 of the assessment year
16 in all other counties. The initial application must contain
17 the information required by the Department of Revenue, which
18 shall prepare the form, including:
19 (1) a copy of the organization's charter from the
20 State of Illinois, if applicable;
21 (2) the location or legal description of the
22 property on which is located the principal building for
23 the organization, including the PIN number, if available;
24 (3) a written instrument evidencing that the
25 organization is the record owner or has a legal or
26 equitable interest in the property;
27 (4) an affidavit that the organization is liable
28 for paying the real property taxes on the property; and
29 (5) the signature of the organization's chief
30 presiding officer.
31 Subsequent applications shall include any changes in the
32 initial application and shall affirm the ownership, use, and
33 liability for taxes for the year in which it is submitted.
34 All applications shall be notarized.
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1 (d) This Section does not apply to parcels exempt from
2 property taxes under this Code.
3 Section 99. Effective date. This Act takes effect on
4 January 1, 2002.