Bill Text: IL SB3918 | 2011-2012 | 97th General Assembly | Introduced

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Bill Title: Amends the Property Tax Code. Provides that any taxing district may order the county clerk to abate all or a portion of the taxes levied by the taxing district on certain tool and die business property. Effective immediately.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Failed) 2013-01-08 - Session Sine Die [SB3918 Detail]

Download: Illinois-2011-SB3918-Introduced.html

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97TH GENERAL ASSEMBLY State of Illinois 2011 and 2012 SB3918 Introduced 5/9/2012, by Sen. Dan Kotowski SYNOPSIS AS INTRODUCED:
35 ILCS 200/18-184.15 new
Amends the Property Tax Code. Provides that any taxing district may order the county clerk to abate all or a portion of the taxes levied by the taxing district on certain tool and die business property. 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
Section 18-184.15 as follows:
(35 ILCS 200/18-184.15 new)
Sec. 18-184.15. Tool and die abatement. Beginning in
taxable year 2012, any taxing district may order the county
clerk to abate all or a portion of the taxes levied by the
taxing district on qualified tool and die business property
located within the taxing district.
"Qualified tool and die business" means a business (i) with
a North American Industrial Classification System (NAICS)
classification of 332997, 333511, 333512, 333513, 333514, or
333515 and (ii) with fewer than 75 full-time employees.
"Qualified tool and die business property" means property
owned by a qualified tool and die business and used by that
business primarily for tool and die business operations.
"Qualified tool and die business property" also includes
property leased by a qualified tool and die business and used
primarily for tool and die business operations if the qualified
tool and die business is liable for paying real property taxes
on the property. Qualified tool and die business property is

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considered to be used primarily for tool and die business
operations if 75% or more of the gross revenue of the tool and
die business is generated from tool and die operations that
take place on that property during the taxable year.
Section 99. Effective date. This Act takes effect upon
becoming law.