Bill Text: IL HB5646 | 2013-2014 | 98th General Assembly | Amended
Bill Title: Amends the Property Tax Code. Provides that counties and municipalities may provide for an abatement of the taxes imposed by the county or municipality on property upon which a commercial or industrial facility has been newly constructed or improved. Provides that the governing body of the county or municipality shall determine the period of time during which the abatement will apply, which shall not exceed: (i) 10 years if the facility is a LEEDS certified facility or a facility that will be used to provide direct medical services; or (ii) 5 years in the case of all other qualified facilities.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2014-12-03 - Session Sine Die [HB5646 Detail]
Download: Illinois-2013-HB5646-Amended.html
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| 1 | AMENDMENT TO HOUSE BILL 5646
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| 2 | AMENDMENT NO. ______. Amend House Bill 5646 by replacing | ||||||
| 3 | everything after the enacting clause with the following:
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| 4 | "Section 5. The Property Tax Code is amended by adding | ||||||
| 5 | Section 18-184.15 as follows:
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| 6 | (35 ILCS 200/18-184.15 new) | ||||||
| 7 | Sec. 18-184.15. Abatement for commercial or industrial | ||||||
| 8 | facilities. Any county or municipality may, by a majority vote | ||||||
| 9 | of its governing body, order the county clerk to abate a | ||||||
| 10 | portion of the taxes imposed by each taxing district located | ||||||
| 11 | within that county or municipality on property upon which a | ||||||
| 12 | commercial or industrial facility has been newly constructed or | ||||||
| 13 | improved. The total amount of the abatement under this Section | ||||||
| 14 | shall not exceed the lesser of (i) the amount attributable to | ||||||
| 15 | the construction or improvements or (ii) $50,000 in each | ||||||
| 16 | taxable year if the facility is a LEEDS certified facility or a | ||||||
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| 1 | facility that will be used to provide direct medical services | ||||||
| 2 | or $30,000 in each taxable year for all other facilities. The | ||||||
| 3 | governing body of the county or municipality shall determine | ||||||
| 4 | the period of time during which the abatement will apply, which | ||||||
| 5 | shall not exceed: (i) 10 years if the facility is a LEEDS | ||||||
| 6 | certified facility or a facility that will be used to provide | ||||||
| 7 | direct medical services; or (ii) 5 years in the case of all | ||||||
| 8 | other qualified facilities. Notwithstanding any other | ||||||
| 9 | provision of law, no county or municipality may grant an | ||||||
| 10 | abatement under this Section if the first year of the abatement | ||||||
| 11 | will be taxable year 2024 or thereafter.".
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