Bill Text: IL HB2217 | 2019-2020 | 101st General Assembly | Introduced

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Bill Title: Amends the Property Tax Code. Provides that, in counties with 3,000,000 or more inhabitants, taxpayers of income producing property shall submit income and expense data related to the property annually to the chief county assessment officer. Provides that, in counties with fewer than 3,000,000 inhabitants, the county board may provide by resolution that taxpayers of income producing property shall submit income and expense data annually to the chief county assessment officer. Provides that, when determining the value of property for assessment purposes, the assessor may consider all relevant information pertaining to the fair cash value of the property, including, but not limited to, income and expense data, sales data, property characteristics data, construction cost data, appraisals, and other valuation information. Effective immediately.

Spectrum: Partisan Bill (Democrat 23-0)

Status: (Introduced - Dead) 2019-03-29 - Added Co-Sponsor Rep. Natalie A. Manley [HB2217 Detail]

Download: Illinois-2019-HB2217-Introduced.html

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101ST GENERAL ASSEMBLY State of Illinois 2019 and 2020 HB2217 Introduced , by Rep. William Davis SYNOPSIS AS INTRODUCED:
35 ILCS 200/9-155
35 ILCS 200/9-160
35 ILCS 200/Art. 9 Div. 6 heading new
35 ILCS 200/9-280 new
35 ILCS 200/9-281 new
Amends the Property Tax Code. Provides that, in counties with 3,000,000 or more inhabitants, taxpayers of income producing property shall submit income and expense data related to the property annually to the chief county assessment officer. Provides that, in counties with fewer than 3,000,000 inhabitants, the county board may provide by resolution that taxpayers of income producing property shall submit income and expense data annually to the chief county assessment officer. Provides that, when determining the value of property for assessment purposes, the assessor may consider all relevant information pertaining to the fair cash value of the property, including, but not limited to, income and expense data, sales data, property characteristics data, construction cost data, appraisals, and other valuation information. Effective immediately.
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FISCAL NOTE ACT MAY APPLY HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY
A BILL FOR
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AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Property Tax Code is amended by changing
Sections 9-155 and 9-160 and by adding Division 6 to Article 9
as follows:
(35 ILCS 200/9-155)
Sec. 9-155. Valuation in general assessment years.
(a) On or before June 1 in each general assessment year in
all counties with less than 3,000,000 inhabitants, and as soon
as he or she reasonably can in each general assessment year in
counties with 3,000,000 or more inhabitants, or if any such
county is divided into assessment districts as provided in
Sections 9-215 through 9-225, as soon as he or she reasonably
can in each general assessment year in those districts, the
assessor, in person or by deputy, shall actually view and
determine as near as practicable the value of each property
listed for taxation as of January 1 of that year, or as
provided in Section 9-180, and assess the property at 33 1/3%
of its fair cash value, or in accordance with Sections 10-110
through 10-140 and 10-170 through 10-200, or in accordance with
a county ordinance adopted under Section 4 of Article IX of the
Constitution of Illinois. The assessor or deputy shall set

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down, in the books furnished for that purpose the assessed
valuation of properties in one column, the assessed value of
improvements in another, and the total valuation in a separate
column.
(b) When determining the value of property for assessment
purposes under this Code, the assessor may consider all
relevant information pertaining to the fair cash value of the
property, including, but not limited to, income and expense
data submitted under this Code, sales data, property
characteristics data, construction cost data, appraisals, and
other valuation information pertaining to the property
concerned and similar types of properties.
(Source: P.A. 86-1481; 87-1189; 88-455.)
(35 ILCS 200/9-160)
Sec. 9-160. Valuation in years other than general
assessment years.
(a) On or before June 1 in each year other than the general
assessment year, in all counties with less than 3,000,000
inhabitants, and as soon as he or she reasonably can in
counties with 3,000,000 or more inhabitants, the assessor shall
list and assess all property which becomes taxable and which is
not upon the general assessment, and also make and return a
list of all new or added buildings, structures or other
improvements of any kind, the value of which had not been
previously added to or included in the valuation of the

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property on which such improvements have been made, specifying
the property on which each of the improvements has been made,
the kind of improvement and the value which, in his or her
opinion, has been added to the property by the improvements.
The assessment shall also include or exclude, on a
proportionate basis in accordance with the provisions of
Section 9-180, all new or added buildings, structures or other
improvements, the value of which was not included in the
valuation of the property for that year, and all improvements
which were destroyed or removed. In case of the destruction or
injury by fire, flood, cyclone, storm or otherwise, or removal
of any structures of any kind, or of the destruction of or any
injury to orchard timber, ornamental trees or groves, the value
of which has been included in any former valuation of the
property, the assessor shall determine as near as practicable
how much the value of the property has been diminished, and
make return thereof.
(b) Beginning January 1, 1996, the authority within a unit
of local government that is responsible for issuing building or
occupancy permits shall notify the chief county assessment
officer, by December 31 of the assessment year, when a full or
partial occupancy permit has been issued for a parcel of real
property. The chief county assessment officer shall include in
the assessment of the property for the current year the
proportionate value of new or added improvements on that
property from the date the occupancy permit was issued or from

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the date the new or added improvement was inhabitable and fit
for occupancy or for intended customary use until December 31
of that year. If the chief county assessment officer has
already certified the books for the year, the board of review
or interim board of review shall assess the new or added
improvements on a proportionate basis for the year in which the
occupancy permit was issued or the new or added improvement was
inhabitable and fit for occupancy or for intended customary
use. The proportionate value of the new or added improvements
may be assessed by the board of review or interim board of
review as omitted property pursuant to Sections 9-265, 9-270,
16-50 and 16-140 in a subsequent year on a proportionate basis
for the year in which the occupancy permit was issued or the
new or added improvement was inhabitable and fit for occupancy
or for intended customary use if it was not assessed in that
year.
(c) When determining the value of property for assessment
purposes under this Code, the assessor may consider all
relevant information pertaining to the fair cash value of the
property, including, but not limited to, income and expense
data submitted under this Act, sales data, property
characteristics data, construction cost data, appraisals, and
other valuation information pertaining to the property
concerned and similar types of properties.
(Source: P.A. 91-486, eff. 1-1-00.)

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(35 ILCS 200/Art. 9 Div. 6 heading new)
Division 6. Income Producing Property
(35 ILCS 200/9-280 new)
Sec. 9-280. Definitions. As used in this Article:
"Income and expense data" means annual reports or documents
created in the ordinary course of business documenting income
generated from and expenses associated with income producing
property. The term "income and expense data" includes, but is
not limited to, federal income tax returns related to income
producing property, such as Internal Revenue Service Schedule E
or Schedule 8825, annual reports, rent rolls, and certified or
uncertified annual income and expense statements reflecting
revenue and costs attributable to the property for the current
and immediately preceding calendar year.
"Income producing property" means real property that
generates income or is owned for the purpose of generating
income, whether or not that property actually generates income
in a particular year, but does not include:
(1) property with an assessed value of $100,000 or less
in the most recent assessment year;
(2) residential property containing 6 or fewer
dwelling units; or
(3) property assessed as a farm under Section 10-110 of
this Code.

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(35 ILCS 200/9-281 new)
Sec. 9-281. Income producing properties.
(a) In counties with 3,000,000 or more inhabitants,
taxpayers of income producing property shall submit income and
expense data annually to the chief county assessment officer on
or before July 1 of each year. The chief county assessment
officer may extend the time within which taxpayers are required
to submit income and expense data under this Section for good
cause shown in accordance with rules adopted under this
Section. Taxpayers shall certify under oath in a signed
notarized attestation that such information is true, accurate,
and complete.
In counties with fewer than 3,000,000 inhabitants, the
county board may provide by resolution that taxpayers of income
producing property shall submit income and expense data
annually to the chief county assessment officer on or before
March 30 of each year. The chief county assessment officer may
extend the time within which taxpayers are required to submit
income and expense data under this Section for good cause shown
in accordance with rules adopted under this Section. Taxpayers
shall certify under oath in a signed notarized attestation that
such information is true, accurate, and complete.
(b) The chief county assessment officer of (i) a county
with 3,000,000 more inhabitants or (ii) a county that has
adopted by resolution the provisions of subsection (a) shall
establish rules regarding the submission of income and expense

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data and the administration of this Section in the county. The
income and expense data may be submitted in electronic form.
(c) If a taxpayer fails to submit income and expense data
as required under this Section within the time prescribed, or
within an extended period as permitted by the chief county
assessment officer, the assessor shall send notice to the
taxpayer of the failure to comply. If the taxpayer fails to
submit the required data within 60 days after such notice is
sent, the taxpayer shall pay a penalty to the chief county
assessment officer of 2% of the prior year's assessed value for
the property at issue. If the taxpayer fails to submit income
and expense data as required under this Section within 120 days
after such notice was sent, or within an extended period set by
the assessor, the taxpayer shall pay to the chief county
assessment officer an additional penalty of 2.5% of the prior
year's assessed value for such property.
If a taxpayer fails to comply with this Section after
receiving notice from the assessor, then the taxpayer is not
permitted to appeal to the assessor the assessment of the
income producing property for which it failed to produce income
and expense data for the tax year in which no data was
produced. The State's Attorney of the county in which the
property is located shall have power to act on behalf of the
people and the chief county assessment officer to initiate or
enforce the provisions of this Section, including the power to
compel by subpoena the production of taxpayer income and

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expense data that is required to be produced under this
Section.
(d) Penalties collected by the chief county assessment
officer under this Section for a taxpayer's failure to timely
submit income and expense data shall be collected in the same
manner as other fees collected by the chief county assessment
officer. Seventy-five percent of such revenue shall be
deposited into a fund to support data modernization and
implementation and enforcement of this Section, and 25% of the
revenue shall be distributed to the county treasurer and
deposited in the county's general fund of the county in which
the property is located.
(e) Any personal data such as federal identification or
social security numbers and income tax forms that are included
in income and expense data produced under this Section shall be
deemed private information and exempt from disclosure under the
Freedom of Information Act. Non-personal income and expense
data shall not be subject to disclosure in accordance with the
Freedom of Information Act or other applicable law.
Section 99. Effective date. This Act takes effect upon
becoming law.