BOST. 35 ILCS 200/10-360 new 30 ILCS 805/8.26 new Amends the Property Tax Code. For taxable year 2003 and thereafter, provides for an assessment freeze with respect to real property owned and used by the Fraternal Order of Eagles, or a subordinate organization or entity, that is an exempt entity under Section 501(c) of the Internal Revenue Code and whose members provide 15% of the final assessed value of the property for assessment year 2003 shall be established by the chief county assessment officer at 15% of the final assessed value of the property for assessment yea 2002, or if the property meets the qualifications for the reduced assessment after assessment year 2003, the final assessed value shall be 15% of the final assessed value of the property for the assessment year in which the property first meets the qualifications. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. MAY-21-2002 H FILED WITH CLERK MAY-22-2002 H FIRST READING MAY-22-2002 H REFERRED TO HOUSE RULES COMMITTEE RULES JAN-07-2003 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary