Bill Title: Amends the Property Tax Code. Provides that the county clerk shall abate 10% of the taxes imposed on qualified forest property that is part of a proposed new housing development. Provides that the owner of the property shall obtain approval from the Department of Natural Resources and shall submit a conservation plan and a new housing development plan to the Department of Natural Resources. Provides that "qualified forest property" means land of at least one acre that: (i) is at least 10% stocked by forest trees of any size; (ii) includes forest strips that are at least 120 feet wide; (iii) is managed in accordance with a conservation plan approved by the Department of Natural Resources; and (iv) is not developed for non-forest use as of January 1 of the first taxable year of the abatement. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2025-01-07 - Session Sine Die [SB0319 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2023-02-02	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois SB0319

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB0319 currently on file.

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