Bill Text: IL SB3453 | 2019-2020 | 101st General Assembly | Introduced

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Bill Title: Amends the Property Tax Code. Creates the Site Value Tax Law within the Property Tax Code. Provides that each taxing district may, by ordinance, levy a site value tax upon the assessed value of land within the taxing district. Provides that "assessed value" means 33 1/3% of the fair cash value of the land, without regard to buildings, structures, improvements, or other permanent fixtures on the land, except for the value of oil, gas, coal, and other minerals in the land and the right to remove such oil, gas, coal, and other minerals from the land. Contains provisions concerning enforcement and collection. Effective immediately.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2021-01-13 - Session Sine Die [SB3453 Detail]

Download: Illinois-2019-SB3453-Introduced.html

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101ST GENERAL ASSEMBLY State of Illinois 2019 and 2020 SB3453 Introduced 2/13/2020, by Sen. Chuck Weaver SYNOPSIS AS INTRODUCED:
35 ILCS 200/Art. 31.1 heading new
35 ILCS 200/31.1-1 new
35 ILCS 200/31.1-5 new
35 ILCS 200/31.1-10 new
Amends the Property Tax Code. Creates the Site Value Tax Law within the Property Tax Code. Provides that each taxing district may, by ordinance, levy a site value tax upon the assessed value of land within the taxing district. Provides that "assessed value" means 33 1/3% of the fair cash value of the land, without regard to buildings, structures, improvements, or other permanent fixtures on the land, except for the value of oil, gas, coal, and other minerals in the land and the right to remove such oil, gas, coal, and other minerals from the land. Contains provisions concerning enforcement and collection. Effective immediately.
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FISCAL NOTE ACT MAY APPLY HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY
A BILL FOR
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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
Article 31.1 as follows:
(35 ILCS 200/Art. 31.1 heading new)
Article 31.1. Site Value Tax Law
(35 ILCS 200/31.1-1 new)
Sec. 31.1-1. Short title. This Article may be cited as the
Site Value Tax Law.
(35 ILCS 200/31.1-5 new)
Sec. 31.1-5. Site value tax authorized. In addition to any
other tax authorized under this Code, each taxing district may,
by ordinance, levy a site value tax upon the assessed value of
land within the taxing district. Taxes under this Article shall
be levied uniformly by valuation within the taxing district.
As used in this Section, "assessed value" means 33 1/3% of
the fair cash value of the land, without regard to buildings,
structures, improvements, or other permanent fixtures on the
land, except for the value of oil, gas, coal, and other
minerals in the land and the right to remove such oil, gas,

SB3453 - 2 - LRB101 18145 HLH 67585 b
coal, and other minerals from the land.
(35 ILCS 200/31.1-10 new)
Sec. 31.1-10. Collection of site value tax; enforcement.
The tax under this Article shall be collected in accordance
with the procedures established for the collection of property
taxes under Article 20 of this Code. For the purpose of
collecting the tax under this Article, taxpayers shall be
subject to the due dates and enforcement actions, and shall
have the rights, remedies, and privileges, set forth in
Articles 21, 22, and 23 of this Code with respect to the taxes
under this Article.
Section 99. Effective date. This Act takes effect upon
becoming law.