Bill Text: IL HB0218 | 2009-2010 | 96th General Assembly | Introduced
Bill Title: Amends the Department of Revenue Law of the Civil Administrative Code of Illinois. Requires the Department of Revenue to conduct a study to determine the effects and feasibility of assessing property in the State at 100% rather than at 33 1/3% of its fair cash value. Requires the Department to submit a report to the Governor and the General Assembly no later than January 1, 2010 concerning the study. Effective immediately.
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2009-03-13 - Rule 19(a) / Re-referred to Rules Committee [HB0218 Detail]
Download: Illinois-2009-HB0218-Introduced.html
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1 | AN ACT concerning State government.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Department of Revenue Law of the
Civil | ||||||||||||||||||||||||
5 | Administrative Code of Illinois is amended by adding Section | ||||||||||||||||||||||||
6 | 2505-560 as follows:
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7 | (20 ILCS 2505/2505-560 new)
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8 | Sec. 2505-560. Study concerning property tax assessment | ||||||||||||||||||||||||
9 | procedures. The Department must conduct a study to determine | ||||||||||||||||||||||||
10 | the effects and feasibility of assessing property in the State | ||||||||||||||||||||||||
11 | at 100% rather than at 33 1/3% of its fair cash value. The | ||||||||||||||||||||||||
12 | study must consider, without limitation, the effect that the | ||||||||||||||||||||||||
13 | change in valuation would have on property tax rates, the | ||||||||||||||||||||||||
14 | distribution of the property tax burden on taxpayers, and the | ||||||||||||||||||||||||
15 | value of exemptions. No later than January 1, 2010, the | ||||||||||||||||||||||||
16 | Department must submit a report to the Governor and the General | ||||||||||||||||||||||||
17 | Assembly concerning the study under this Section.
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18 | Section 99. Effective date. This Act takes effect upon | ||||||||||||||||||||||||
19 | becoming law.
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