Bill Text: IL HB5646 | 2013-2014 | 98th General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

---

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-Introduced.html

---

98TH GENERAL ASSEMBLY State of Illinois 2013 and 2014 HB5646 Introduced , by Rep. Sam Yingling SYNOPSIS AS INTRODUCED:
35 ILCS 200/18-184.15 new
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.
LRB098 17163 HLH 52250 b
FISCAL NOTE ACT MAY APPLY HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY
A BILL FOR
HB5646 LRB098 17163 HLH 52250 b
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 adding
Section 18-184.15 as follows:
(35 ILCS 200/18-184.15 new)
Sec. 18-184.15. Abatement for commercial or industrial
facilities. Any county or municipality may, by a majority vote
of its governing body, order the county clerk to abate a
portion of the taxes imposed by the county or municipality on
property upon which a commercial or industrial facility has
been newly constructed or improved. The total amount of the
abatement under this Section shall not exceed the lesser of the
amount attributable to the construction or improvements or
$1,000,000 over the entire period of the abatement. 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.