IL SB2178 | 2021-2022 | 102nd General Assembly
Status
Spectrum: Partisan Bill (Democrat 4-0)
Status: Introduced on February 26 2021 - 25% progression, died in committee
Action: 2021-04-20 - Added as Co-Sponsor Sen. Patrick J. Joyce
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 26 2021 - 25% progression, died in committee
Action: 2021-04-20 - Added as Co-Sponsor Sen. Patrick J. Joyce
Pending: Senate Assignments Committee
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 |
---|---|---|
2021-04-20 | Senate | Added as Co-Sponsor Sen. Patrick J. Joyce |
2021-04-16 | Senate | Rule 3-9(a) / Re-referred to Assignments |
2021-04-13 | Senate | Added as Co-Sponsor Sen. Bill Cunningham |
2021-04-06 | Senate | Added as Chief Co-Sponsor Sen. Napoleon Harris, III |
2021-03-16 | Senate | Assigned to Revenue |
2021-02-26 | Senate | Referred to Assignments |
2021-02-26 | Senate | First Reading |
2021-02-26 | 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=2178&GAID=16&DocTypeID=SB&SessionID=110&GA=102 |
Text | https://www.ilga.gov/legislation/102/SB/10200SB2178.htm |