Bill Title: Amends the Property Tax Code. Provides that a board of review may enter into discussions with a taxpayer aimed at achieving a stipulated revised assessment upon the property. Contains provisions concerning notice provided to taxing districts. Contains provisions concerning objections by taxing districts to the proposed assessment, and requires that those objections be submitted to the board of review within 45 days after the district receives notice of the proposed assessment. Provides that, within 120 days after the Property Tax Appeal Board's receipt of the stipulation or assessment agreement, the Property Tax Appeal Board shall issue a decision in accordance with the stipulation or assessment agreement, unless it finds that the Property Tax Appeal Board lacks jurisdiction over the appeal or that the stipulation or assessment agreement is against the manifest weight of the evidence. Contains provisions concerning notice to taxing districts. Provides that discussions of a proposed settlement may not be used as evidence in any hearing with respect to that assessment year and that property. Effective immediately.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Failed) 2013-01-08 - Session Sine Die [HB3947 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2012-01-03	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB3947

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB3947 currently on file.

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