Illinois House Bill 2355 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 18 2009 - 25% progression, died in committee
Action: 2009-03-13 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Property Tax Code. Provides that whenever, as the result of a final order of the Property Tax Appeal Board or any court, a property assessment is reduced for a tax year for which the taxes have already been paid and the subject property is still owned by the same person, entity, or a successor entity, the chief county assessment officer shall award to the taxpayer obtaining the order a compensatory assessment reduction for the next assessment year available for assessment adjustment. Provides that the amount of the compensatory assessment reduction shall be equal to the assessment reduction for the prior year or years as ordered by Property Tax Appeal Board or court and provides that the amount may be carried forward. Provides that the award of compensatory assessment reductions shall take place prior to and shall be considered in the determination of tax rates by the county clerk. Provides that the award of compensatory assessment reductions shall not affect the determination of the fair market value of the subject property or its assessed valuation once the compensatory assessment reductions have been exhausted.

PROP TX-ASSESSMENTS

Rep. Louis Lang [D]

Date	Chamber	Action
2009-03-13		Rule 19(a) / Re-referred to Rules Committee
2009-02-23		Assigned to Revenue & Finance Committee
2009-02-19		Referred to Rules Committee
2009-02-19		First Reading
2009-02-18		Filed with the Clerk by Rep. Lou Lang

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2355&GAID=10&DocTypeID=HB&SessionID=76&GA=96
Text	https://www.ilga.gov/legislation/96/HB/09600HB2355.htm