Public Act 103-1002
 
SB3455 EnrolledLRB103 36901 HLH 67014 b

    AN ACT concerning revenue.
 
    Be it enacted by the People of the State of Illinois, 
represented in the General Assembly:
 
    Section 5. The Department of Revenue Law of the Civil 
Administrative Code of Illinois is amended by adding Section 
2505-815 as follows:
 
    (20 ILCS 2505/2505-815 new)
    Sec. 2505-815. Property tax system study. The Department, 
in consultation with the Department of Commerce and Economic 
Opportunity, shall conduct a study to evaluate the property 
tax system in the State and shall analyze any information 
collected in connection with that study. The Department may 
also examine whether the existing property tax levy, 
assessment, appeal, and collection process is reasonable and 
fair and may issue recommendations to improve that process. 
For purposes of conducting the study and analyzing the data 
required under this Section, the Department may determine the 
scope of the historical data necessary to complete the study, 
but in no event shall the scope or time period be less than the 
10 most recent tax years for which the Department has complete 
data. The study shall include, but need not be limited to, the 
following:
        (1) a comprehensive review of the classification 
    system used by Cook County in assessing real property in 
    Cook County compared with the rest of the State, 
    including, but not limited to, a projection of the impact, 
    if any, that the assessment of real property in Cook 
    County would exhibit if the classification system were to 
    be phased-out and transitioned to a uniform level of 
    assessment, and the impact, if any, that the Cook County 
    classification system has or has had on economic 
    development or job creation in the county;
        (2) a comprehensive review of State laws concerning 
    the appeal of assessments at the local and State level and 
    State laws concerning the collection of property taxes, 
    including any issues that have resulted in delays in 
    issuing property tax bills;
        (3) a comprehensive review of statewide assessment 
    processes, including a comparison of assessment process in 
    Cook County and other counties and practices in other 
    states that allow for standardized assessment processes;
        (4) a comprehensive review of current property tax 
    homestead exemptions, the impact of those exemptions, and 
    the administration or application of those exemptions;
        (5) an analysis of preferential assessments or 
    incentives, including, but not limited to, the resultant 
    economic impact from preferential assessments; and
        (6) a review of the State's reliance on property taxes 
    and the historical growth in property tax levies.
    The Department may consult with Illinois institutions of 
higher education in conducting the study required under this 
Section. The Department may also consult with units of local 
government. To the extent practicable and where applicable, 
the Department may request relevant, publicly available 
property tax information from units of local government, 
including counties and municipalities, that is deemed 
necessary to complete the study required pursuant to this 
Section. Units of local government that are required to submit 
property tax information to the Department must do so in a 
reasonably expedient manner, to the extent possible, but in no 
event later than 60 days after the date upon which the 
Department requests that relevant information.
    The Department may complete a preliminary report that may 
be made available for public inspection via electronic means 
prior to the publication of the final report under this 
Section. The Department shall complete and submit the final 
report under this Section to the Governor and the General 
Assembly by July 1, 2026. A copy of both the preliminary 
report, if made available by the Department, and the final 
report shall be made available to the public via electronic 
means. The Department may allow for the submission of public 
comments from individuals, organizations, or associations 
representing residential property owners, commercial property 
owners, units of local government, or labor unions in Illinois 
prior to finalizing the final report under this Section and 
after publication of the final report under this Section. If 
the Department allows for the submission of public comments, 
the Department shall publish via electronic means any and all 
materials submitted to the Department.
    This Section is repealed on December 31, 2026.

Effective Date:  1/1/2025