House Sponsors: DART-LYONS,JOSEPH-WOJCIK-BLACK, O'BRIEN, FRANKS, MCAULIFFE AND CROTTY. Short description: PROP TAX FREEZE-FRATERNAL ORGS Synopsis of Bill as introduced: 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. HOUSE AMENDMENT NO. 1. Provides that certain fraternal organizations that on December 31, 1926 had their national headquarters in Illinois or that were chartered in Illinois in July of 1896 may qualify for the property tax valuation. FISCAL NOTE (Department of Revenue) HB 223 does not create a fiscal impact to the State, but could result in a significant loss in property tax receipts for local taxing districts. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0 END OF INQUIRY Full Text Bill Status