Illinois Senate Bill 3974

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on November 6 2024 - 25% progression
Action: 2024-11-06 - Referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Property Tax Code. Provides that the fair cash value of commercial energy storage system improvements in counties with fewer than 3,000,000 inhabitants shall be determined by subtracting the allowance for physical depreciation from the commercial energy storage system trended real property cost basis. Provides that those commercial energy storage systems are not subject to equalization factors applied by the Department of Revenue or by any board of review, assessor, or chief county assessment officer. Provides that the owner of the commercial energy storage system shall commission a metes and bounds survey description of the land upon which the commercial energy storage system is located. Contains other provisions concerning the assessment of commercial energy storage systems. Effective immediately.

PROP TX-ENERGY STORAGE

Sen. David Koehler [D]

Date	Chamber	Action
2024-11-06	Senate	Referred to Assignments
2024-11-06	Senate	First Reading
2024-11-06	Senate	Filed with Secretary by Sen. David Koehler

Chapter	Article	Section	Citation Type	Statute Text
35	200	10-22	New Code	See Bill Text
35	200	10-920	New Code	See Bill Text
35	200	10-925	New Code	See Bill Text
35	200	10-935	New Code	See Bill Text
35	200	10-940	New Code	See Bill Text
35	200	10-945	New Code	See Bill Text
35	200	10-950	New Code	See Bill Text
35	200	10-955	New Code	See Bill Text
35	200	10-960	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3974&GAID=17&DocTypeID=SB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/SB/10300SB3974.htm