IL SB3350 | 2019-2020 | 101st General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 4-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Democrat 4-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Property Tax Code. Provides that certain property located in Bloom, Bremen, Calumet, Rich, Thornton, or Worth Township may be certified by the South Suburban Land Bank and Development Authority, the Cook County Land Bank Development Authority, or both collectively, as a southland reactivation site. Sets forth valuation procedures for southland reactivation property. Provides that, for the first 3 tax years after the property is certified as southland reactivation property, the aggregate tax liability for the property shall be no greater than $100,000 per year. Provides that, beginning with the fourth tax year after the property is certified as southland reactivation property and continuing through the twelfth tax year after the property is certified as southland reactivation property, the property's tax liability shall be increased over the tax liability for the preceding year by 5% or the percentage change in the Consumer Price Index, whichever is less. Effective immediately.
Title
PROP TX-SOUTHLAND PROPERTY
Sponsors
History
Date | Chamber | Action |
---|---|---|
2021-01-13 | Senate | Session Sine Die |
2020-05-15 | Senate | Rule 2-10 Committee/3rd Reading Deadline Established As May 31, 2020 |
2020-05-07 | Senate | Rule 2-10 Third Reading/Passage Deadline Established As May 29, 2020 |
2020-05-07 | Senate | Rule 2-10 Committee Deadline Established As May 22, 2020 |
2020-04-30 | Senate | Rule 2-10 Third Reading/Passage Deadline Established As May 22, 2020 |
2020-04-30 | Senate | Rule 2-10 Committee Deadline Established As May 15, 2020 |
2020-04-23 | Senate | Rule 2-10 Third Reading/Passage Deadline Established As May 15, 2020 |
2020-04-23 | Senate | Rule 2-10 Committee Deadline Established As May 7, 2020 |
2020-04-16 | Senate | Rule 2-10 Committee Deadline Established As April 30, 2020 |
2020-04-12 | Senate | Pursuant to Senate Rule 3-9(b) / Referred to Assignments |
2020-03-25 | Senate | Rule 2-10 Third Reading/Passage Deadline Established As May 7, 2020 |
2020-03-25 | Senate | Rule 2-10 Committee Deadline Established As April 24, 2020 |
2020-03-18 | Senate | Rule 2-10 Committee Deadline Established As April 2, 2020 |
2020-03-04 | Senate | Postponed - Revenue |
2020-03-04 | Senate | Added as Co-Sponsor Sen. Patrick J. Joyce |
2020-02-27 | Senate | Added as Co-Sponsor Sen. Emil Jones, III |
2020-02-27 | Senate | Added as Co-Sponsor Sen. Bill Cunningham |
2020-02-25 | Senate | Assigned to Revenue |
2020-02-14 | Senate | Referred to Assignments |
2020-02-14 | Senate | First Reading |
2020-02-14 | Senate | Filed with Secretary by Sen. Elgie R. Sims, Jr. |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
35 | 200 | 10-21 | New Code | See Bill Text |
35 | 200 | 10-800 | New Code | See Bill Text |
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3350&GAID=15&DocTypeID=SB&SessionID=108&GA=101 |
Text | https://www.ilga.gov/legislation/101/SB/10100SB3350.htm |