99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
Introduced , by Rep. Robert F. Martwick
SYNOPSIS AS INTRODUCED:
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.
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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:
The Property Tax Code is amended by adding
Section 15-190 as follows:
(35 ILCS 200/15-190 new)
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
This Act takes effect upon