Public Act 90-0186 of the 90th General Assembly
Public Act 90-0186
HB0045 Enrolled LRB9000700KRks
AN ACT in relation to taxation.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The State Mandates Act is amended by adding
Section 8.21 as follows:
(30 ILCS 805/8.21 new)
Sec. 8.21. Notwithstanding Sections 6 and 8 of this Act,
no reimbursement by the State is required for the
implementation of any mandate created by this amendatory Act
of 1997.
Section 10. The Property Tax Code is amended by changing
Section 15-180 as follows:
(35 ILCS 200/15-180)
Sec. 15-180. Homestead improvements. Homestead
properties that have been improved are entitled to a
homestead improvement exemption, limited to $30,000 per year
through December 31, 1997, and $45,000 beginning January 1,
1998 and thereafter, in fair cash value, when that property
is owned and used exclusively for a residential purpose and
upon demonstration that a proposed increase in assessed value
is attributable solely to a new improvement of an existing
structure. The amount of the exemption shall be limited to
the fair cash value added by the new improvement and shall
continue for 4 years from the date the improvement is
completed and occupied, or until the next following general
assessment of that property, whichever is later.
In counties of less than 3,000,000 inhabitants, in
addition to the notice requirement under Section 12-30, a
supervisor of assessments, county assessor, or township or
multi-township assessor responsible for adding an assessable
improvement to a residential property's assessment shall
either notify a taxpayer whose assessment has been changed
since the last preceding assessment that he or she may be
eligible for the exemption provided under this Section or
shall grant the exemption automatically.
(Source: P.A. 88-455; 89-595, eff. 1-1-97.)
Section 99. Effective date. This Act takes effect upon
becoming law.