IL HB5685 | 2017-2018 | 100th General Assembly

Status

Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Property Tax Code. Makes the following changes in the Historic Residence Assessment Freeze Law: (1) replaces references to the Historic Preservation Agency with the Department of Natural Resources; (2) provides that, if the fair cash value of the historic building is reduced because the property is sold or because the property is found to have been overassessed for the year in which the rehabilitation period by the chief county assessment officer, the board of review, or the Property Tax Appeal Board, then the base year valuation shall be the reduced fair cash value; and (3) provides that, if an owner receives a certificate of rehabilitation, that same owner may not reapply for a new certificate of rehabilitation for the same property until 4 years after the last year of the adjustment valuation period. Repeals a Section concerning receipt of applications by a unit of local government.

Tracking Information

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Title

PROP TX-HISTORIC PRESERVATION

Sponsors


History

DateChamberAction
2019-01-08HouseSession Sine Die
2018-02-16HouseReferred to Rules Committee
2018-02-16HouseFirst Reading
2018-02-16HouseFiled with the Clerk by Rep. Tim Butler

Code Citations

ChapterArticleSectionCitation TypeStatute Text
3520010-40Amended CodeCitation Text
3520010-55Amended CodeCitation Text
3520010-65Repealed CodeCitation Text

Illinois State Sources


Bill Comments

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