PHILIP. (DART) 35 ILCS 200/10-355 new 30 ILCS 805/8.25 new Amends the Property Tax Code. Provides that, for the taxable year 2002 and thereafter, the assessed value of real property owned and used by certain fraternal organizations, or their subordinate organizations or entities, that are exempt entities under Section 501(c)(8) of the Internal Revenue Code and whose members provide support for charitable works shall be established by the chief county assessment officer at 15% of the final assessed value of the property for the assessment year 2001, or if the property meets the qualifications for the reduced assessment after assessment year 2002, 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. Effective January 1, 2002. SENATE AMENDMENT NO. 1. Provides that the fraternal organization for which the exemption is allowed is a fraternal organization, or its subordinate organiza- tion or entity, that was chartered in Illinois in July of 1896 and is an exempt entity under Section 501(c)(8) of the Internal Revenue Code (now, a fraternal organization, or its subordinate organization or entity, that is an exempt entity under Section 501(c)(8) of the Inter- nal Revenue Code and whose members provide, directly or indirectly, financial support for charitable works, which may include medical care, drug rehabilitation, or education). FEB-20-2001 S FIRST READING FEB-20-2001 S REFERRED TO SENATE RULES COMMITTEE RULES FEB-21-2001 S ASSIGNED TO COMMITTEE REVENUE MAR-28-2001 S AMENDMENT NO. 01-REVENUE S MAR-28-2001 S ADOPTED MAR-29-2001 S DO PASS AS AMENDED 008-001-000 SREV MAR-29-2001 S PLACED ON CALENDAR ORDER OF 2ND READING 01-03-30 MAR-30-2001 S SECOND READING MAR-30-2001 S PLACED ON CALENDAR ORDER OF 3RD READING 01-04-02 APR-04-2001 S THIRD READING - PASSED 054-000-001 APR-04-2001 H ARRIVE IN HOUSE APR-04-2001 H HOUSE SPONSOR DART APR-04-2001 H PLACED CALENDAR ORDER OF FIRST READING APR-05-2001 H FIRST READING APR-05-2001 H REFERRED TO HOUSE RULES COMMITTEE RULES APR-06-2001 H ASSIGNED TO COMMITTEE REVENUE MAY-03-2001 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL JAN-07-2003 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary