Bill Text: IL HB3529 | 2021-2022 | 102nd General Assembly | Introduced
Bill Title: Amends the Property Tax Code. Provides that owners of income producing properties shall file physical descriptions of their properties with the chief county assessor, on a form and format determined by the chief county assessor. Effective immediately.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2021-03-27 - Rule 19(a) / Re-referred to Rules Committee [HB3529 Detail]
Download: Illinois-2021-HB3529-Introduced.html
| ||||||||||||||||||||
| ||||||||||||||||||||
| ||||||||||||||||||||
| ||||||||||||||||||||
| ||||||||||||||||||||
1 | AN ACT concerning revenue.
| |||||||||||||||||||
2 | Be it enacted by the People of the State of Illinois,
| |||||||||||||||||||
3 | represented in the General Assembly:
| |||||||||||||||||||
4 | Section 5. The Property Tax Code is amended by adding | |||||||||||||||||||
5 | Section 9-285 as follows:
| |||||||||||||||||||
6 | (35 ILCS 200/9-285 new) | |||||||||||||||||||
7 | Sec. 9-285. Real property descriptions. | |||||||||||||||||||
8 | (a) This Section shall apply to all counties with | |||||||||||||||||||
9 | 3,000,000 or more inhabitants and to all counties where the | |||||||||||||||||||
10 | county board provides by ordinance or resolution that owners | |||||||||||||||||||
11 | of certain property shall substantially comply with subsection | |||||||||||||||||||
12 | (b), below. | |||||||||||||||||||
13 | (b) Owners of income producing properties shall file | |||||||||||||||||||
14 | physical descriptions of their properties with the chief | |||||||||||||||||||
15 | county assessor, on a form and format determined by the chief | |||||||||||||||||||
16 | county assessor, within 120 days after: | |||||||||||||||||||
17 | (1) the effective date of this amendatory Act of the | |||||||||||||||||||
18 | 102nd General Assembly, for counties of 3,000,000 or more; | |||||||||||||||||||
19 | or | |||||||||||||||||||
20 | (2) the adoption of a resolution by the county board | |||||||||||||||||||
21 | under this Section, for all other counties. | |||||||||||||||||||
22 | Following an initial filing pursuant to paragraphs (1) or | |||||||||||||||||||
23 | (2) of this subsection (b), a property owner shall also update |
| |||||||
| |||||||
1 | the filing within 120 days after any material change in the | ||||||
2 | physical description. | ||||||
3 | (c) If the owner fails to submit the required physical | ||||||
4 | description or fails to adequately explain why no submission | ||||||
5 | is required, the owner shall pay a penalty to the chief county | ||||||
6 | assessment officer of up to 0.025% of the prior year's market | ||||||
7 | value as indicated by the most recent certified assessed value | ||||||
8 | for the property at issue, but in no case shall the owner be | ||||||
9 | required to pay more than a maximum penalty of $1,000 per | ||||||
10 | property. The chief county assessment officer shall review all | ||||||
11 | submissions and determine whether the owner provided | ||||||
12 | sufficient evidence that he or she was not required to report a | ||||||
13 | property description or that the submission complies based on | ||||||
14 | available documentation. | ||||||
15 | If a party is dissatisfied with a decision of the chief | ||||||
16 | county assessment officer, the party may request review of | ||||||
17 | that decision. Upon such request, at least 30 days' notice | ||||||
18 | shall be provided to the party of a hearing to be conducted by | ||||||
19 | a hearing officer designated by the chief county assessment | ||||||
20 | officer. If dissatisfied with a hearing officer's decision, | ||||||
21 | the party may appeal such decision to the circuit court of the | ||||||
22 | county where the property is located as a final administrative | ||||||
23 | decision under Administrative Review Law. If a party is | ||||||
24 | unsuccessful at hearing, the penalty imposed under this | ||||||
25 | Section shall bear interest at 0.05% per month thereafter, | ||||||
26 | beginning 21 days after the date of decision or 21 days after |
| |||||||
| |||||||
1 | the date of the issuance of a final decision on administrative | ||||||
2 | review. | ||||||
3 | (d) Definitions. For the purpose of this Section: | ||||||
4 | "Income producing property" means property that is not | ||||||
5 | owner-occupied, as defined in this Section, and is owned for | ||||||
6 | the purpose of generating income from the property itself, | ||||||
7 | whether or not such property actually generates income in a | ||||||
8 | particular year. "Income producing property" does not include: | ||||||
9 | (1) property with a market value of $500,000 or less | ||||||
10 | in the most recent assessment year for which an assessment | ||||||
11 | is certified exclusive of any adjustments to assessed | ||||||
12 | value by a board of review, the Property Tax Appeal Board, | ||||||
13 | or the circuit court; | ||||||
14 | (2) residential property containing 6 or fewer | ||||||
15 | dwelling units; | ||||||
16 | (3) property assessed under Article 10 of this Code | ||||||
17 | and stadiums that are not qualified property under Section | ||||||
18 | 10-215 that have a seating capacity of 20,000 or more and | ||||||
19 | host major professional sporting events; | ||||||
20 | (4) property that is assessed by the Department under | ||||||
21 | Article 11 of this Code; | ||||||
22 | (5) property that is owned or leased by a hospital | ||||||
23 | licensed under the Hospital Licensing Act or operated | ||||||
24 | under the University of Illinois Hospital Act, including | ||||||
25 | any hospital affiliate that directly or indirectly | ||||||
26 | controls, is controlled by, or is under common control |
| |||||||
| |||||||
1 | with a hospital; or | ||||||
2 | (6) property that is owned or leased by a facility | ||||||
3 | licensed under the Nursing Home Care Act that is an | ||||||
4 | intermediate or skilled facility. | ||||||
5 | "Net rentable area" means the square footage of an | ||||||
6 | improvement that may be leased or rented to tenants and | ||||||
7 | excludes common areas such as elevators, stairways, and | ||||||
8 | atriums. | ||||||
9 | "Owner-occupied" means real property that is used or | ||||||
10 | occupied exclusively by a record owner or related entity, or | ||||||
11 | real property where 80% or more of the net rentable area of the | ||||||
12 | property is occupied or held for future use by the record owner | ||||||
13 | of the property or a related person or entity as described in | ||||||
14 | subsection (b) of Section 267 of the Internal Revenue Code. If | ||||||
15 | more than 20% of the net rentable area of a property is subject | ||||||
16 | to an existing lease or is subject to short term rental of the | ||||||
17 | property by an unrelated entity, the property is not | ||||||
18 | considered owner-occupied for purposes of this Section. | ||||||
19 | "Physical description" means the land size and, for each | ||||||
20 | individual development on the parcel, information about the | ||||||
21 | construction type, year built, total development size, number | ||||||
22 | of buildings, the number of stories in each building, and | ||||||
23 | parking capacity. Additionally: | ||||||
24 | (1) For multi-family residential properties of 6 or | ||||||
25 | more units, "physical description" also includes the | ||||||
26 | number of stories in each building, the size and use of |
| |||||||
| |||||||
1 | basement area, the number of studio, 1-bedroom, 2-bedroom, | ||||||
2 | 3-bedroom, and larger units; pool area (if any); exercise | ||||||
3 | area (if any); lower level uses; and the number of units, | ||||||
4 | if any, which are enrolled in any government-administered | ||||||
5 | affordable housing program. | ||||||
6 | (2) For office properties, "physical description" also | ||||||
7 | includes the net rentable area, the number of stories, the | ||||||
8 | size and use of basement area, lower level uses, ceiling | ||||||
9 | height, whether or not each unit is used for medical | ||||||
10 | services, and whether or not buildings on the property | ||||||
11 | share a central plant. | ||||||
12 | (3) For retail properties, "physical description" also | ||||||
13 | includes the net rentable area, the number of stories, the | ||||||
14 | size and uses of basement area, the size and use of lower | ||||||
15 | levels, ceiling height, and total customer capacity. | ||||||
16 | (4) For industrial properties, "physical description" | ||||||
17 | also includes the size and location of office area or | ||||||
18 | areas, ceiling height, the size and location of docks, the | ||||||
19 | number and size of loading bay doors, and the primary | ||||||
20 | tenant or business entity. | ||||||
21 | (5) For hospitality properties, "physical description" | ||||||
22 | also includes the size of any conference area, the number | ||||||
23 | of stories, the size and use of basement area, the room | ||||||
24 | count, the suite count, the size and location of lounge | ||||||
25 | areas, the size and location of restaurant areas, | ||||||
26 | franchise affiliation, the size and location of any pool |
| |||||||
| |||||||
1 | area, and lower level uses. | ||||||
2 | "Property" has the meaning set forth in Section 1-130 of | ||||||
3 | this Code and includes contiguous parcels or property index | ||||||
4 | numbers that comprise one functional property location.
| ||||||
5 | Section 99. Effective date. This Act takes effect upon | ||||||
6 | becoming law.
|