Bill Text: IL SB3415 | 2019-2020 | 101st General Assembly | Introduced

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Bill Title: Amends the Property Tax Code. Provides that property on which a solar energy system is installed is entitled to a 25% reduction in all property taxes levied against the property for the year in which the system is installed. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2021-01-13 - Session Sine Die [SB3415 Detail]

Download: Illinois-2019-SB3415-Introduced.html

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101ST GENERAL ASSEMBLY State of Illinois 2019 and 2020 SB3415 Introduced 2/13/2020, by Sen. Cristina Castro SYNOPSIS AS INTRODUCED:
35 ILCS 200/10-10
Amends the Property Tax Code. Provides that property on which a solar energy system is installed is entitled to a 25% reduction in all property taxes levied against the property for the year in which the system is installed. Effective immediately.
LRB101 20336 HLH 69880 b
FISCAL NOTE ACT MAY APPLY HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY
A BILL FOR
SB3415 LRB101 20336 HLH 69880 b
AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Property Tax Code is amended by changing
Section 10-10 as follows:
(35 ILCS 200/10-10)
Sec. 10-10. Valuation and taxation of solar energy systems.
When a solar energy system has been installed in improvements
on any property, the owner of that property is entitled to
claim, by filing with the chief county assessment officer, an
alternate valuation of those improvements. When a claim for
alternate valuation is filed, the chief county assessment
officer shall ascertain the value of the improvements as if
equipped with a conventional heating or cooling system and the
value of the improvements as equipped with the solar energy
system. So long as the solar energy system is used in total or
part as the means of utilizing solar energy improvements, the
alternate valuation computed as the lesser of the two values
ascertained under this paragraph shall be applied. When the
solar energy system so valued ceases to be used as the means of
heating or cooling those improvements, the owner of that
property shall within 30 days notify the chief county
assessment officer in writing by certified mail.

SB3415 - 2 - LRB101 20336 HLH 69880 b
For tax year 2021 and thereafter, in addition to any
alternate valuation provided under this Section, property on
which a solar energy system is installed is entitled to a 25%
reduction in all property taxes levied against the property for
the year in which the system is installed.
(Source: P.A. 80-430; 88-455.)
Section 99. Effective date. This Act takes effect upon
becoming law.