Bill Text: IL SB0083 | 2021-2022 | 102nd General Assembly | Introduced

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Bill Title: Amends the Property Tax Code. Creates the Site Value Tax Law within the Property Tax Code. Provides that each taxing district may, by ordinance, levy a site value tax upon the assessed value of land within the taxing district. Provides that "assessed value" means 33 1/3% of the fair cash value of the land, without regard to buildings, structures, improvements, or other permanent fixtures on the land, except for the value of oil, gas, coal, and other minerals in the land and the right to remove such oil, gas, coal, and other minerals from the land. Contains provisions concerning enforcement and collection. Effective immediately.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2021-02-03 - Referred to Assignments [SB0083 Detail]

Download: Illinois-2021-SB0083-Introduced.html

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102ND GENERAL ASSEMBLY State of Illinois 2021 and 2022 SB0083 Introduced 2/3/2021, by Sen. Win Stoller SYNOPSIS AS INTRODUCED:
35 ILCS 200/Art. 31.1 heading new
35 ILCS 200/31.1-1 new
35 ILCS 200/31.1-5 new
35 ILCS 200/31.1-10 new
Amends the Property Tax Code. Creates the Site Value Tax Law within the Property Tax Code. Provides that each taxing district may, by ordinance, levy a site value tax upon the assessed value of land within the taxing district. Provides that "assessed value" means 33 1/3% of the fair cash value of the land, without regard to buildings, structures, improvements, or other permanent fixtures on the land, except for the value of oil, gas, coal, and other minerals in the land and the right to remove such oil, gas, coal, and other minerals from the land. Contains provisions concerning enforcement and collection. Effective immediately.
LRB102 04166 HLH 14183 b
FISCAL NOTE ACT MAY APPLY HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY
A BILL FOR
SB0083 LRB102 04166 HLH 14183 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
Article 31.1 as follows:
(35 ILCS 200/Art. 31.1 heading new)
Article 31.1. Site Value Tax Law
(35 ILCS 200/31.1-1 new)
Sec. 31.1-1. Short title. This Article may be cited as the
Site Value Tax Law.
(35 ILCS 200/31.1-5 new)
Sec. 31.1-5. Site value tax authorized. In addition to any
other tax authorized under this Code, each taxing district
may, by ordinance, levy a site value tax upon the assessed
value of land within the taxing district. Taxes under this
Article shall be levied uniformly by valuation within the
taxing district.
As used in this Section, "assessed value" means 33 1/3% of
the fair cash value of the land, without regard to buildings,
structures, improvements, or other permanent fixtures on the
land, except for the value of oil, gas, coal, and other

SB0083 - 2 - LRB102 04166 HLH 14183 b
minerals in the land and the right to remove such oil, gas,
coal, and other minerals from the land.
(35 ILCS 200/31.1-10 new)
Sec. 31.1-10. Collection of site value tax; enforcement.
The tax under this Article shall be collected in accordance
with the procedures established for the collection of property
taxes under Article 20 of this Code. For the purpose of
collecting the tax under this Article, taxpayers shall be
subject to the due dates and enforcement actions, and shall
have the rights, remedies, and privileges, set forth in
Articles 21, 22, and 23 of this Code with respect to the taxes
under this Article.
Section 99. Effective date. This Act takes effect upon
becoming law.