Bill Text: IL HB3516 | 2015-2016 | 99th General Assembly | Introduced

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Bill Title: Amends the Property Tax Code. Creates a homestead exemption of $1,000 for homestead property on which a stormwater retention basin has been constructed during the taxable year. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2016-04-08 - Rule 19(a) / Re-referred to Rules Committee [HB3516 Detail]

Download: Illinois-2015-HB3516-Introduced.html

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99TH GENERAL ASSEMBLY State of Illinois 2015 and 2016 HB3516 Introduced , by Rep. Robert F. Martwick SYNOPSIS AS INTRODUCED:
35 ILCS 200/15-190 new
Amends the Property Tax Code. Creates a homestead exemption of $1,000 for homestead property on which a stormwater retention basin has been constructed during the taxable year. Effective immediately.
LRB099 09594 HLH 29803 b
FISCAL NOTE ACT MAY APPLY HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY
A BILL FOR
HB3516 LRB099 09594 HLH 29803 b
AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Property Tax Code is amended by adding
Section 15-190 as follows:
(35 ILCS 200/15-190 new)
Sec. 15-190. Homestead exemption for stormwater retention.
Beginning with the 2016 taxable year, an annual homestead
exemption equal to a reduction of $1,000 from the equalized
assessed value of the property is granted for homestead
property, as defined in Section 15-175, on which a stormwater
retention basin has been constructed during the taxable year.
For the purposes of this Section, "stormwater retention basin"
means an impoundment created by a dam or an excavation for the
purpose of storing water and settling sediment and other
pollutants from surface runoff, which is designed to hold a
specific amount of water until the water can evaporate or
infiltrate.
Section 99. Effective date. This Act takes effect upon
becoming law.