Bill Title: Amends the Property Tax Code. Authorizes a home rule municipality, by ordinance, to order the county clerk to abate, for a period not to exceed 10 years, any percentage of the taxes levied by the municipality and any other taxing district on each owner-occupied single-family residence that is located in an area of urban decay within the corporate limits of the municipality. Limits the amount of the abatement to 2% of the taxes extended by all taxing districts on all parcels located within the township that contain residential dwelling units of 6 units or less. Sets forth procedures for adopting an abatement ordinance. Effective immediately.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Introduced - Dead) 2009-03-13 - Rule 19(a) / Re-referred to Rules Committee [HB0531 Detail]

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Bill Drafts

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Introduced	Not Avail	HTML/Text	Link	View

Amendments

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No bill amendments currently on file for Illinois HB0531

Supplemental Documents

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No supplemental documents for Illinois HB0531 currently on file.