Bill Text: IL HB1448 | 2019-2020 | 101st General Assembly | Introduced
Bill Title: Amends the Property Tax Code. Provides for a property tax abatement for property located in a taxing district that: (i) is owner-occupied; (ii) is the owner's primary residence; and (iii) meets the criteria of a residential home ownership incentive program adopted by the taxing district.
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: (Introduced - Dead) 2019-04-11 - Added Co-Sponsor Rep. Chris Miller [HB1448 Detail]
Download: Illinois-2019-HB1448-Introduced.html
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1 | AN ACT concerning revenue.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Property Tax Code is amended by adding | ||||||||||||||||||||||||
5 | Section 18-185.15 as follows:
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6 | (35 ILCS 200/18-185.15 new) | ||||||||||||||||||||||||
7 | Sec. 18-185.15. Home ownership incentive programs. Any | ||||||||||||||||||||||||
8 | taxing district, upon a majority vote of its governing | ||||||||||||||||||||||||
9 | authority,
may, after the determination of the assessed | ||||||||||||||||||||||||
10 | valuation of its property, order
the clerk of that county to | ||||||||||||||||||||||||
11 | abate any portion of its taxes on any property in the taxing | ||||||||||||||||||||||||
12 | district that: (i) is owner-occupied; (ii) is the owner's | ||||||||||||||||||||||||
13 | primary residence; and (iii) meets the criteria of a | ||||||||||||||||||||||||
14 | residential home ownership incentive program adopted by that | ||||||||||||||||||||||||
15 | taxing district by ordinance or resolution (including, but not | ||||||||||||||||||||||||
16 | limited to, any such program adopted through intergovernmental | ||||||||||||||||||||||||
17 | agreement in concert with other taxing districts).
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