Illinois House Bill 235 (Prior Session Legislation)

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January 8 2013 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Property Tax Code. In provisions concerning the assessment of subdivisions, provides that the subsequent sale or transfer of the property by a party who acquired title pursuant to (i) a transfer as a mortgage holder, (ii) a mortgage foreclosure proceeding, (iii) a consent judgment, or (iv) a transfer in lieu of foreclosure, shall not disqualify the property from being assessed based on the estimated price the property would bring at a fair voluntary sale for use by the buyer for the same purposes for which the property was used when last assessed prior to its platting (or, until January 1, 2011, assessed based on the assessed value assigned to the property when last assessed prior to its last transfer or conveyance) unless (A) a habitable structure is completed on the lot, (B) the lot is used for business, commercial, or residential purpose, or (C) until the initial sale of any platted lot. Effective immediately.

PROP TX-SUBDIVISIONS

Rep Tom Cross

Date	Chamber	Action
2013-01-08	House	Session Sine Die
2011-03-17	House	Rule 19(a) / Re-referred to Rules Committee
2011-02-08	House	Assigned to Revenue & Finance Committee
2011-01-25	House	Referred to Rules Committee
2011-01-25	House	First Reading
2011-01-21	House	Filed with the Clerk by Rep. Tom Cross

Chapter	Article	Section	Citation Type	Statute Text
35	200	10-30	Amended Code	Citation Text
35	200	10-31	Amended Code	Citation Text

Type	Source
Summary	http://www.ilga.gov/legislation/BillStatus.asp?DocNum=235&GAID=11&DocTypeID=HB&SessionID=84&GA=97
Text	http://www.ilga.gov/legislation/97/HB/09700HB0235.htm