Bill Amendment: IL SB1379 | 2019-2020 | 101st General Assembly
NOTE: For additional amemendments please see the Bill Drafting List
Bill Title: PROP TX-INCOME PRODUCING PROP
Status: 2021-01-13 - Session Sine Die [SB1379 Detail]
Download: Illinois-2019-SB1379-Senate_Amendment_001.html
Bill Title: PROP TX-INCOME PRODUCING PROP
Status: 2021-01-13 - Session Sine Die [SB1379 Detail]
Download: Illinois-2019-SB1379-Senate_Amendment_001.html
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1 | AMENDMENT TO SENATE BILL 1379
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2 | AMENDMENT NO. ______. Amend Senate Bill 1379 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 changing | ||||||
5 | Sections 9-155 and 9-160 and by adding Division 6 to Article 9 | ||||||
6 | as follows:
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7 | (35 ILCS 200/9-155)
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8 | Sec. 9-155. Valuation in general assessment years. | ||||||
9 | (a) On or before June 1 in
each general assessment year in | ||||||
10 | all counties with less than 3,000,000
inhabitants, and as soon | ||||||
11 | as he or she reasonably can in each general assessment
year in | ||||||
12 | counties with 3,000,000 or more inhabitants, or if any such | ||||||
13 | county is
divided into assessment districts as provided in | ||||||
14 | Sections 9-215 through 9-225,
as soon as he or she reasonably | ||||||
15 | can in each general assessment year in those
districts, the | ||||||
16 | assessor, in person or by deputy, shall actually view and
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1 | determine as near as practicable the value of each property | ||||||
2 | listed for taxation
as of January 1 of that year, or as | ||||||
3 | provided in Section 9-180, and assess the
property at 33 1/3% | ||||||
4 | of its fair cash value, or in accordance with Sections
10-110 | ||||||
5 | through 10-140 and 10-170 through 10-200, or in accordance with | ||||||
6 | a county
ordinance adopted under Section 4 of Article IX of the | ||||||
7 | Constitution of
Illinois. The assessor or deputy shall set | ||||||
8 | down, in the books furnished for
that purpose the assessed | ||||||
9 | valuation of properties in one column, the assessed
value of | ||||||
10 | improvements in another, and the total valuation in a separate | ||||||
11 | column.
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12 | (b) When determining the value of property for assessment | ||||||
13 | purposes under this Code, the assessor may consider all | ||||||
14 | relevant information pertaining to the fair cash value of the | ||||||
15 | property, including, but not limited to, income and expense | ||||||
16 | data submitted under this Code, sales data, property | ||||||
17 | characteristics data, construction cost data, appraisals, and | ||||||
18 | other valuation information pertaining to the property | ||||||
19 | concerned and similar types of properties. | ||||||
20 | (Source: P.A. 86-1481; 87-1189; 88-455.)
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21 | (35 ILCS 200/9-160)
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22 | Sec. 9-160. Valuation in years other than general | ||||||
23 | assessment years. | ||||||
24 | (a) On or
before June 1 in each year other than the general | ||||||
25 | assessment year, in all
counties with less than 3,000,000 |
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1 | inhabitants, and as soon as he or she
reasonably can in | ||||||
2 | counties with 3,000,000 or more inhabitants, the assessor
shall | ||||||
3 | list and assess all property which becomes taxable and which is | ||||||
4 | not upon
the general assessment, and also make and return a | ||||||
5 | list of all new or added
buildings, structures or other | ||||||
6 | improvements of any kind, the value of which had
not been | ||||||
7 | previously added to or included in the valuation of the | ||||||
8 | property on
which such improvements have been made, specifying | ||||||
9 | the property on which each
of the improvements has been made, | ||||||
10 | the kind of improvement and the value which,
in his or her | ||||||
11 | opinion, has been added to the property by the improvements. | ||||||
12 | The
assessment shall also include or exclude, on a | ||||||
13 | proportionate basis in
accordance with the provisions of | ||||||
14 | Section 9-180, all new or
added buildings, structures or other | ||||||
15 | improvements, the value of which was
not included in the | ||||||
16 | valuation of the property for that year, and all
improvements | ||||||
17 | which were destroyed or removed. In case of the destruction or
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18 | injury by fire, flood, cyclone, storm or otherwise, or removal | ||||||
19 | of any
structures of any kind, or of the destruction of or any | ||||||
20 | injury to orchard
timber, ornamental trees or groves, the value | ||||||
21 | of which has been included in any
former valuation of the | ||||||
22 | property, the assessor shall determine as near as
practicable | ||||||
23 | how much the value of the property has been diminished, and | ||||||
24 | make
return thereof.
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25 | (b) Beginning January 1, 1996, the authority within a unit | ||||||
26 | of local government
that is responsible for issuing building or |
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1 | occupancy permits shall notify the
chief county assessment | ||||||
2 | officer, by December 31 of the assessment year, when a
full or | ||||||
3 | partial occupancy permit has
been issued for a
parcel of real | ||||||
4 | property. The chief county assessment officer shall
include in | ||||||
5 | the assessment of the property for the current year the
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6 | proportionate value of new or added improvements on that | ||||||
7 | property from the date
the occupancy permit was issued or from | ||||||
8 | the date the new or added
improvement was
inhabitable and fit | ||||||
9 | for occupancy or for intended customary use until December 31 | ||||||
10 | of that year. If the chief county
assessment officer has | ||||||
11 | already certified the books for the year, the board of
review | ||||||
12 | or interim board of review shall assess the new or added | ||||||
13 | improvements on
a proportionate basis for the year in which the | ||||||
14 | occupancy permit was issued or the new or added
improvement was
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15 | inhabitable and fit for occupancy or for intended customary | ||||||
16 | use.
The proportionate value of
the
new or added improvements | ||||||
17 | may be assessed by the board of review
or interim
board of | ||||||
18 | review as omitted property pursuant to Sections 9-265, 9-270, | ||||||
19 | 16-50
and 16-140 in a subsequent year on a proportionate basis | ||||||
20 | for the year in which
the occupancy permit was
issued or the | ||||||
21 | new or added improvement was
inhabitable and fit for occupancy | ||||||
22 | or for intended customary use
if it was not assessed in that | ||||||
23 | year.
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24 | (c) When determining the value of property for assessment | ||||||
25 | purposes under this Code, the assessor may consider all | ||||||
26 | relevant information pertaining to the fair cash value of the |
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1 | property, including, but not limited to, income and expense | ||||||
2 | data submitted under this Act, sales data, property | ||||||
3 | characteristics data, construction cost data, appraisals, and | ||||||
4 | other valuation information pertaining to the property | ||||||
5 | concerned and similar types of properties. | ||||||
6 | (Source: P.A. 91-486, eff. 1-1-00.)
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7 | (35 ILCS 200/Art. 9 Div. 6 heading new) | ||||||
8 | Division 6. Income Producing Property | ||||||
9 | (35 ILCS 200/9-280 new) | ||||||
10 | Sec. 9-280. Definitions. As used in this Article: | ||||||
11 | "Income and expense data" means annual reports or documents | ||||||
12 | created in the ordinary course of business documenting income | ||||||
13 | generated from and expenses associated with income producing | ||||||
14 | property. The term "income and expense data" includes federal | ||||||
15 | income tax returns related to income producing property, such | ||||||
16 | as Internal Revenue Service Schedule E or Schedule 8825, annual | ||||||
17 | reports, rent rolls, and certified or uncertified annual income | ||||||
18 | and expense statements reflecting revenue and costs | ||||||
19 | attributable to the property for the current and immediately | ||||||
20 | preceding calendar year. | ||||||
21 | "Income producing property" means non-owner-occupied real | ||||||
22 | property that is owned for the purpose of generating income | ||||||
23 | from the property itself, whether or not that property actually | ||||||
24 | generates income in a particular year, and includes hotels and |
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1 | motels, parking garages and lots, senior and adult care | ||||||
2 | facilities, gas stations, and self-storage facilities, but | ||||||
3 | does not include: | ||||||
4 | (1) property with an assessed value of $100,000 or less | ||||||
5 | in the most recent assessment year; | ||||||
6 | (2) residential property containing 6 or fewer | ||||||
7 | dwelling units; or | ||||||
8 | (3) property assessed as a farm under Section 10-110 of | ||||||
9 | this Code. | ||||||
10 | "Property" has the meaning set forth in Section 1-130 of | ||||||
11 | this Code and includes contiguous parcels or property index | ||||||
12 | numbers that comprise one functional property location.
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13 | (35 ILCS 200/9-281 new) | ||||||
14 | Sec. 9-281. Income producing properties. | ||||||
15 | (a) In counties with 3,000,000 or more inhabitants, | ||||||
16 | taxpayers of income producing property shall submit income and | ||||||
17 | expense data annually to the chief county assessment officer on | ||||||
18 | or before July 1 of each year. The chief county assessment | ||||||
19 | officer may extend the time within which taxpayers are required | ||||||
20 | to submit income and expense data under this Section for good | ||||||
21 | cause shown in accordance with rules adopted under this | ||||||
22 | Section. Taxpayers shall certify under oath in a signed | ||||||
23 | notarized attestation that such information is true, accurate, | ||||||
24 | and complete. | ||||||
25 | In counties with fewer than 3,000,000 inhabitants, the |
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1 | county board may provide by resolution that taxpayers of income | ||||||
2 | producing property shall submit income and expense data | ||||||
3 | annually to the chief county assessment officer on or before | ||||||
4 | March 30 of each year. The chief county assessment officer may | ||||||
5 | extend the time within which taxpayers are required to submit | ||||||
6 | income and expense data under this Section for good cause shown | ||||||
7 | in accordance with rules adopted under this Section. Taxpayers | ||||||
8 | shall certify under oath in a signed notarized attestation that | ||||||
9 | such information is true, accurate, and complete. | ||||||
10 | (b) The chief county assessment officer of (i) a county | ||||||
11 | with 3,000,000 more inhabitants or (ii) a county that has | ||||||
12 | adopted by resolution the provisions of subsection (a) shall | ||||||
13 | establish rules regarding the submission of income and expense | ||||||
14 | data and the administration of this Section in the county. The | ||||||
15 | income and expense data may be submitted in electronic form. | ||||||
16 | (c) If a taxpayer fails to submit income and expense data | ||||||
17 | as required under this Section within the time prescribed, or | ||||||
18 | within an extended period as permitted by the chief county | ||||||
19 | assessment officer, the assessor shall send notice to the | ||||||
20 | taxpayer of the failure to comply. If the taxpayer fails to | ||||||
21 | submit the required data within 60 days after such notice is | ||||||
22 | sent, the taxpayer shall pay a penalty to the chief county | ||||||
23 | assessment officer of 0.5% of the prior year's assessed value | ||||||
24 | for the property at issue, but in no case shall the taxpayer be | ||||||
25 | obligated to pay more than $100,000 per property. | ||||||
26 | The State's Attorney of the county in which the property is |
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1 | located shall have power to act on behalf of the people and the | ||||||
2 | chief county assessment officer to initiate or enforce the | ||||||
3 | provisions of this Section, including the power to compel by | ||||||
4 | subpoena the production of taxpayer income and expense data | ||||||
5 | that is required to be produced under this Section. | ||||||
6 | (d) Penalties collected by the chief county assessment | ||||||
7 | officer under this Section for a taxpayer's failure to timely | ||||||
8 | submit income and expense data shall be collected in the same | ||||||
9 | manner as other fees collected by the chief county assessment | ||||||
10 | officer. Seventy-five percent of such revenue shall be | ||||||
11 | deposited into a fund to support data modernization and | ||||||
12 | implementation and enforcement of this Section, and 25% of the | ||||||
13 | revenue shall be distributed to the county treasurer and | ||||||
14 | deposited in the county's general fund of the county in which | ||||||
15 | the property is located. | ||||||
16 | (e) Any personal data such as federal identification or | ||||||
17 | social security numbers and income tax forms that are included | ||||||
18 | in income and expense data produced under this Section shall be | ||||||
19 | deemed private information and exempt from disclosure under the | ||||||
20 | Freedom of Information Act. Non-personal income and expense | ||||||
21 | data shall not be subject to disclosure in accordance with the | ||||||
22 | Freedom of Information Act or other applicable law. Nothing in | ||||||
23 | this Section prohibits a chief county assessment officer from | ||||||
24 | disclosing compiled and anonymized income and expense data. | ||||||
25 | (f) All information received by the chief county assessment | ||||||
26 | officer from income and expense data filed under this Article |
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1 | shall be used only for official purposes. Any person who | ||||||
2 | divulges such information, other than when data is compiled and | ||||||
3 | anonymized as permitted in this Article or when the information | ||||||
4 | is released in accordance with a proper judicial order or as | ||||||
5 | otherwise provided by law, shall be subject to a fine not to | ||||||
6 | exceed $1,000 and disciplined up to and including termination | ||||||
7 | of employment with the chief county assessment officer.
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8 | Section 99. Effective date. This Act takes effect upon | ||||||
9 | becoming law.".
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