Illinois General Assembly - Bill Status for SB2225

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Bill Status of SB2225 97th General Assembly

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Short Description: PROP TX-SUBDIVISIONS-VALUE

Senate Sponsors
Sen. A. J. Wilhelmi and Kyle McCarter

House Sponsors
(Rep. Tom Cross)

Last Action

Date	Chamber	Action
1/8/2013	Senate	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 200/10-31

Synopsis As Introduced
Amends the Property Tax Code. With respect to the assessed value of subdivided lots, provides that the value is not increased upon sale or transfer if (i) the sale is for future development, (ii) the sale or transfer is to a related entity, (iii) the transfer is to a mortgage holder pursuant to mortgage foreclosure or in lieu of foreclosure, or (iv) the sale or transfer is by a mortgagee holder. Removes language that the provisions apply only through December 31, 2011. Makes other changes. Effective immediately.

Senate Floor Amendment No. 1

	Adds reference to:
	35 ILCS 200/10-30

Replaces everything after the enacting clause. Amends the Property Tax Code. In a Section concerning the assessed valuation of subdivisions, provides that prior to the completion of a habitable structure on any lot of subdivided property, or upon the use of any lot for business, commercial or residential purpose, the assessed valuation of platted and subdivided property shall be determined using the same assessment method used in the taxable year prior to the taxable year in which property was subdivided. Provides that undeveloped platted and subdivided property qualifies for assessment in that manner if the property is sold or transferred for development purposes or pursuant to certain foreclosure proceedings. Effective immediately.

Actions

Date	Chamber	Action
2/10/2011	Senate	Filed with Secretary by Sen. A. J. Wilhelmi
2/10/2011	Senate	First Reading
2/10/2011	Senate	Referred to Assignments
3/2/2011	Senate	Assigned to Revenue
3/4/2011	Senate	Added as Co-Sponsor Sen. Kyle McCarter
3/10/2011	Senate	Postponed - Revenue
3/17/2011	Senate	Do Pass Revenue; 009-000-000
3/17/2011	Senate	Placed on Calendar Order of 2nd Reading March 17, 2011
3/25/2011	Senate	Senate Floor Amendment No. 1 Filed with Secretary by Sen. A. J. Wilhelmi
3/25/2011	Senate	Senate Floor Amendment No. 1 Referred to Assignments
3/29/2011	Senate	Senate Floor Amendment No. 1 Assignments Refers to Revenue
3/29/2011	Senate	Senate Floor Amendment No. 1 Postponed - Revenue
4/6/2011	Senate	Senate Floor Amendment No. 1 Recommend Do Adopt Revenue; 007-000-000
4/11/2011	Senate	Second Reading
4/11/2011	Senate	Senate Floor Amendment No. 1 Adopted; Wilhelmi
4/11/2011	Senate	Placed on Calendar Order of 3rd Reading April 12, 2011
4/15/2011	Senate	Third Reading - Passed; 054-001-001
4/15/2011	House	Arrived in House
4/15/2011	House	Placed on Calendar Order of First Reading
4/15/2011	House	Chief House Sponsor Rep. Tom Cross
4/15/2011	House	Referred to Rules Committee
4/25/2011	House	Assigned to Revenue & Finance Committee
5/13/2011	House	Committee Deadline Extended-Rule 9(b) May 20, 2011
5/16/2011	House	Motion Filed to Suspend Rule 25 Revenue & Finance Committee; Rep. Barbara Flynn Currie
5/16/2011	House	Motion to Suspend Rule 25 - Prevailed by Voice Vote
5/20/2011	House	Final Action Deadline Extended-9(b) May 27, 2011
5/27/2011	House	Final Action Deadline Extended-9(b) May 31, 2011
5/31/2011	House	Rule 19(a) / Re-referred to Rules Committee
1/8/2013	Senate	Session Sine Die

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