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Illinois Compiled Statutes

Information maintained by the Legislative Reference Bureau
Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.

Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.

REVENUE
(35 ILCS 200/) Property Tax Code.

35 ILCS 200/10-705

    (35 ILCS 200/10-705)
    Sec. 10-705. Keystone property.
    (a) For the purposes of this Section:
        "Base year" means the last tax year prior to the date
    
of the application during which the property was occupied and assessed and taxes were collected.
        "Tax year" means the calendar year for which assessed
    
value is determined as of January 1 of that year.
        "Keystone property" means property that has had a
    
distinguished past and is a prominent property in the Village of Park Forest, a home rule municipality in both Cook and Will Counties, but is not of historical significance or landmark status and meets the following criteria:
            (1) the property contains an existing industrial
        
structure consisting of more than 100,000 square feet;
            (2) the property is located on a lot, parcel, or
        
tract of land that is more than 5 acres in area;
            (3) the industrial structure was originally built
        
more than 30 years prior to the date of the application;
            (4) the property has been vacant for a period of
        
more than 5 consecutive years immediately prior to the date of the application; and
            (5) the property is not located in a tax
        
increment financing district as of the date of the application.
    (b) Within one year from the effective date of this amendatory Act of the 100th General Assembly, owners of real property may apply with the municipality in which the property is located to have the property designated as keystone property. If the property meets the criteria for keystone property set forth in subsection (a), then the corporate authorities of the municipality have one year from the effective date of this amendatory Act of the 100th General Assembly within which they may certify the property as keystone property for the purposes of promoting rehabilitation of vacant property and fostering job creation in the fields of manufacturing and research and development. The certification shall be transmitted to the chief county assessment officer as soon as possible after the property is certified.
    (c) Beginning with the first tax year after the property is certified as keystone property and continuing through the twelfth tax year after the property is certified as keystone property, for the purpose of taxation under this Code, the property shall be valued at 33 1/3% of the fair cash value of the land, without regard to buildings, structures, improvements, and other permanent fixtures located on the property. For the first 3 tax years after the property is certified as keystone property, the aggregate tax liability for the property shall be no greater than $75,000. That aggregate tax liability, once collected, shall be distributed to the taxing districts in which the property is located according to each taxing district's proportionate share of that aggregate liability. Beginning with the fourth tax year after the property is certified as keystone property and continuing through the twelfth tax year after the property is certified as keystone property, the property's tax liability for each taxing district in which the property is located shall be increased over the tax liability for the preceding year by the percentage increase, if any, in the total equalized assessed value of all property in the taxing district.
    No later than March 1 of each year before taxes are extended for the prior tax year, the Village of Park Forest shall certify to the county clerk of the county in which the property is located a percentage reduction to be applied to property taxes to limit the aggregate tax liability on keystone property in accordance with this Section.
(Source: P.A. 100-510, eff. 9-15-17.)

35 ILCS 200/Art. 10 Div. 20

 
    (35 ILCS 200/Art. 10 Div. 20 heading)
Division 20. Commercial solar energy systems
(Source: P.A. 100-781, eff. 8-10-18.)

35 ILCS 200/10-720

    (35 ILCS 200/10-720)
    Sec. 10-720. Definitions. For the purpose of this Division 20:
    "Allowance for physical depreciation" means (i) the actual age in years of the commercial solar energy system on the assessment date divided by 25 years, multiplied by (ii) its trended real property cost basis. The physical depreciation, however, may not reduce the value of the commercial solar energy system to less than 30% of its trended real property cost basis.
    "Commercial solar energy system" means any device or assembly of devices that (i) is ground installed and (ii) uses solar energy from the sun for generating electricity for the primary purpose of wholesale or retail sale and not primarily for consumption on the property on which the device or devices reside.
    "Commercial solar energy system real property cost basis" means the owner of a commercial solar energy system's interest in the land within the project boundaries and real property improvements and shall be calculated at $218,000 per megawatt of nameplate capacity. For the purposes of this Section, "nameplate capacity" has the same definition as found in Section 1-10 of the Illinois Power Agency Act.
    "Ground installed" means the installation of a commercial solar energy system, with the primary purpose of solar energy generation for wholesale or retail sale, on a parcel or tract of land.
    "Trended real property cost basis" means the commercial solar energy system real property cost basis multiplied by the trending factor.
    "Trending factor" means a number equal to the Consumer Price Index (U.S. city average all items) published by the Bureau of Labor Statistics for the December immediately preceding the assessment date, divided by the Consumer Price Index (U.S. city average all items) published by the Bureau of Labor Statistics for December of 2017.
(Source: P.A. 100-781, eff. 8-10-18.)

35 ILCS 200/10-725

    (35 ILCS 200/10-725)
    Sec. 10-725. Improvement valuation of commercial solar energy systems in counties with fewer than 3,000,000 inhabitants. Beginning in assessment year 2018, the fair cash value of commercial solar energy system improvements in counties with fewer than 3,000,000 inhabitants shall be determined by subtracting the allowance for physical depreciation from the trended real property cost basis. Functional obsolescence and external obsolescence of the solar energy device may further reduce the fair cash value of the commercial solar energy system improvements, to the extent they are proved by the taxpayer by clear and convincing evidence.
(Source: P.A. 100-781, eff. 8-10-18.)

35 ILCS 200/10-735

    (35 ILCS 200/10-735)
    Sec. 10-735. Commercial solar energy systems not subject to equalization. Commercial solar energy systems assessable under this Division are not subject to equalization factors applied by the Department or any board of review, assessor, or chief county assessment officer.
(Source: P.A. 100-781, eff. 8-10-18.)

35 ILCS 200/10-740

    (35 ILCS 200/10-740)
    Sec. 10-740. Survey for ground installed commercial solar energy systems; parcel identification numbers for property improved with a ground installed commercial solar energy system. Notwithstanding any other provision of law, the owner of the ground installed commercial solar energy system shall commission a metes and bounds survey description of the land upon which the commercial solar energy system is installed, including access routes, over which the owner of the commercial solar energy system has exclusive control. The owner of the ground installed commercial solar energy system shall, at his or her own expense, use an Illinois-registered land surveyor to prepare the survey. The owner of the ground installed commercial solar energy system shall deliver a copy of the survey to the chief county assessment officer and to the owner of the land upon which the ground installed commercial solar energy system is constructed. Upon receiving a copy of the survey and an agreed acknowledgement to the separate parcel identification number by the owner of the land upon which the ground installed commercial solar energy system is constructed, the chief county assessment officer shall issue a separate parcel identification for the real property improvements, including the land containing the ground installed commercial solar energy system, to be used only for the purposes of property assessment for taxation. The property records shall contain the legal description of the commercial solar energy system parcel and describe any leasehold interest or other interest of the owner of the commercial solar energy system in the property. A plat prepared under this Section shall not be construed as a violation of the Plat Act.
(Source: P.A. 100-781, eff. 8-10-18.)

35 ILCS 200/10-745

    (35 ILCS 200/10-745)
    Sec. 10-745. Real estate taxes. Notwithstanding the provisions of Section 9-175 of this Code, the owner of the commercial solar energy system shall be liable for the real estate taxes for the land and real property improvements of a ground installed commercial solar energy system. Notwithstanding the foregoing, the owner of the land upon which a commercial solar energy system is installed may pay any unpaid tax of the commercial solar energy system parcel prior to the initiation of any tax sale proceedings.
(Source: P.A. 100-781, eff. 8-10-18; 101-81, eff. 7-12-19.)

35 ILCS 200/10-750

    (35 ILCS 200/10-750)
    Sec. 10-750. Property assessed as farmland. Notwithstanding any other provision of law, real property assessed as farmland in accordance with Section 10-110 in the assessment year prior to valuation under this Division shall return to being assessed as farmland in accordance with Section 10-110 in the year following completion of the removal of the commercial solar energy system as long as the property is returned to a farm use as defined in Section 1-60 of this Act, notwithstanding that the land was not used for farming for the 2 preceding years.
(Source: P.A. 100-781, eff. 8-10-18.)

35 ILCS 200/10-755

    (35 ILCS 200/10-755)
    Sec. 10-755. Abatements. Any taxing district, upon a majority vote of its governing authority, may, after the determination of the assessed valuation as set forth in this Code, order the clerk of the appropriate municipality or county to abate any portion of real property taxes otherwise levied or extended by the taxing district on a commercial solar energy system.
(Source: P.A. 100-781, eff. 8-10-18.)

35 ILCS 200/10-760

    (35 ILCS 200/10-760)
    Sec. 10-760. Applicability. The provisions of this Division apply for assessment years 2018 through 2033.
(Source: P.A. 100-781, eff. 8-10-18.)

35 ILCS 200/Art. 10 Div. 21

 
    (35 ILCS 200/Art. 10 Div. 21 heading)
Division 21. Southland reactivation property
(Source: P.A. 102-1010, eff. 5-27-22.)

35 ILCS 200/10-800

    (35 ILCS 200/10-800)
    Sec. 10-800. Southland reactivation property.
    (a) For the purposes of this Section:
    "Base year" means the last tax year prior to the date of the application for southland reactivation designation during which the property was occupied and assessed and had an equalized assessed value.
    "Cook County Land Bank Authority" means the Cook County Land Bank Authority created by ordinance of the Cook County Board.
    "Municipality" means a city, village, or incorporated town located in the State.
    "Participating entity" means any of the following, either collectively or individually: the municipality in which the property is located; the South Suburban Land Bank and Development Authority; or the Cook County Land Bank Development Authority.
    "Southland reactivation property" means property that:
        (1) has been designated by the municipality by
    
resolution as a priority tax reactivation parcel, site, or property due to its clear pattern of stagnation and depressed condition or the decline in its assessed valuation;
        (2) is held by a participating entity; and
        (3) meets all of the following criteria:
            (A) the property is zoned for commercial or
        
industrial use;
            (B) the property has had its past property taxes
        
cleared and is now classified as exempt, or the property has not had a lawful occupant for at least 12 months immediately preceding the application for certification as southland reactivation property, as attested to by a supporting affidavit;
            (C) the sale or transfer of the property,
        
following southland reactivation designation, to a developer would result in investment which would result a higher assessed value;
            (D) the property will be sold by a participating
        
entity to a buyer of property that has been approved by the corporate authorities of the municipality or to a developer that has been approved by the corporate authorities of the municipality whose redevelopment of the parcel, site, or property would reverse long-standing divestment in the area, enhance inclusive economic growth, create jobs or career pathways, support equitable recovery of the community, and stabilize the tax base through investments that align with local government plans and priorities;
            (E) an application for southland reactivation
        
designation is filed with the participating entity and a resolution designating the property as southland reactivation property is passed by the municipality prior to the sale, rehabilitation, or reoccupation;
            (F) if not for the southland reactivation
        
designation, development or redevelopment of the property would not occur; and
            (G) the property is located in any of the
        
following Townships in Cook County: Bloom, Bremen, Calumet, Rich, Thornton, or Worth.
    "South Suburban Land Bank and Development Authority" means the South Suburban Land Bank and Development Authority created in 2012 by intergovernmental agreement.
    "Tax year" means the calendar year for which assessed value is determined as of January 1 of that year.
    (b) Within 5 years after May 27, 2022 (the effective date of Public Act 102-1010), purchasers of real property from any of the participating entities may apply to that entity to have the property certified as southland reactivation property if the property meets the criteria for southland reactivation property set forth in subsection (a). The participating entity has 5 years from May 27, 2022 (the effective date of Public Act 102-1010) within which it may certify the property as southland reactivation property for the purposes of promoting rehabilitation of abandoned, vacant, or underutilized property to attract and enhance economic activities and investment that stabilize, restore, and grow the tax base in severely blighted areas within Chicago's south suburbs. This certification is nonrenewable and shall be transmitted by the municipality, or by the participating entity on behalf of the municipality, to the chief county assessment officer as soon as possible after the property is certified. Southland reactivation designation is limited to the original applicant unless expressly approved by the corporate authorities of the municipality and the property has no change in use.
    Support by the corporate authorities of the municipality for southland reactivation designation shall be considered in a lawful public meeting, and impacted taxing districts shall receive notification of the agenda item to consider southland reactivation of the site not less than 15 days prior to that meeting.
    (c) Beginning with the first tax year after the property is certified as southland reactivation property and continuing through the twelfth tax year after the property is certified as southland reactivation property, for the purpose of taxation under this Code, the property shall be valued at 50% of the base year equalized assessed value as established by the chief county assessment officer, excluding all years with property tax exemptions applied as a result of the participating entity's ownership. For the first year after the property is certified as southland reactivation property, the aggregate property tax liability for the property shall be no greater than $100,000 per year. That aggregate property tax liability, once collected, shall be distributed to the taxing districts in which the property is located according to each taxing district's proportionate share of that aggregate liability. Beginning with the second tax year after the property is certified as southland reactivation property and continuing through the twelfth tax year after the property is certified as southland reactivation property, the property tax liability for the property for each taxing district in which the property is located shall be increased over the property tax liability for the property for the preceding year by 10%. In no event shall the purchaser's annual tax liability decrease.
    (d) No later than March 1 of each year, the municipality or the participating entity on behalf of the municipality shall certify to the county clerk of the county in which the property is located a percentage southland reactivation reduction to be applied to property taxes for that calendar year, as provided in this Section.
    (e) The participating entity shall collect the following information annually for the pilot program period: the number of program applicants; the street address of each certified property; the proposed use of certified properties; the amount of investment; the number of jobs created as a result of the certification; and copies of the certification of each southland reactivation site to allow for the evaluation and assessment of the effectiveness of southland reactivation designation. The participating entity responsible for seeking the southland reactivation designation shall present this information to the governing body of each taxing district affected by a southland reactivation designation on an annual basis, and the participating entity shall report the above information to any requesting members of the General Assembly at the conclusion of the 5-year designation period.
    (f) Any southland reactivation certification granted under this Section shall be void if the property is conveyed to an entity or person that is liable for any unpaid, delinquent property taxes associated with the property.
(Source: P.A. 102-1010, eff. 5-27-22; 103-154, eff. 6-30-23.)

35 ILCS 200/Art. 11

 
    (35 ILCS 200/Art. 11 heading)
Article 11. Valuations Performed by the Department

35 ILCS 200/Art. 11 Div. 1

 
    (35 ILCS 200/Art. 11 Div. 1 heading)
Division 1. Pollution control facilities

35 ILCS 200/11-5

    (35 ILCS 200/11-5)
    Sec. 11-5. Pollution control facilities; valuation policy. It is the policy of this State that pollution control facilities should be valued, at 33 1/3% of the fair cash value of their economic productivity to their owners.
(Source: P.A. 83-121; 88-455.)

35 ILCS 200/11-10

    (35 ILCS 200/11-10)
    Sec. 11-10. Definition of pollution control facilities. "Pollution control facilities" means any system, method, construction, device or appliance appurtenant thereto, or any portion of any building or equipment, that is designed, constructed, installed or operated for the primary purpose of:
    (a) eliminating, preventing, or reducing air or water pollution, as the terms "air pollution" and "water pollution" are defined in the Environmental Protection Act; or
    (b) treating, pretreating, modifying or disposing of any potential solid, liquid or gaseous pollutant which if released without treatment, pretreatment, modification or disposal might be harmful, detrimental or offensive to human, plant or animal life, or to property. "Pollution control facilities" shall not include, however,
        (1) any facility with the primary purpose of (i)
    
eliminating, containing, preventing or reducing radioactive contaminants or energy, or (ii) treating waste water produced by the nuclear generation of electric power,
        (2) any large diameter pipes or piping systems used
    
to remove and disperse heat from water involved in the nuclear generation of electric power,
        (3) any facility operated by any person other than a
    
unit of government, whether within or outside of the territorial boundaries of a unit of local government, for sewage disposal or treatment, or
        (4) land underlying a cooling pond.
(Source: P.A. 83-883; 88-455.)

35 ILCS 200/11-15

    (35 ILCS 200/11-15)
    Sec. 11-15. Method of valuation for pollution control facilities. To determine 33 1/3% of the fair cash value of any certified pollution control facilities in assessing those facilities, the Department shall take into consideration the actual or probable net earnings attributable to the facilities in question, capitalized on the basis of their productive earning value to their owner; the probable net value which could be realized by their owner if the facilities were removed and sold at a fair, voluntary sale, giving due account to the expense of removal and condition of the particular facilities in question; and other information as the Department may consider as bearing on the fair cash value of the facilities to their owner, consistent with the principles set forth in this Section. For the purposes of this Code, earnings shall be attributed to a pollution control facility only to the extent that its operation results in the production of a commercially saleable by-product or increases the production or reduces the production costs of the products or services otherwise sold by the owner of such facility.
(Source: P.A. 83-121; 88-455.)

35 ILCS 200/11-20

    (35 ILCS 200/11-20)
    Sec. 11-20. Certification and assessment authority. For tax purposes, pollution control facilities shall be certified as such by the Pollution Control Board and shall be assessed by the Department.
(Source: P.A. 77-1381; 88-455.)

35 ILCS 200/11-25

    (35 ILCS 200/11-25)
    Sec. 11-25. Certification procedure. Application for a pollution control facility certificate shall be filed with the Pollution Control Board in a manner and form prescribed in regulations issued by that board. The application shall contain appropriate and available descriptive information concerning anything claimed to be entitled in whole or in part to tax treatment as a pollution control facility. If it is found that the claimed facility or relevant portion thereof is a pollution control facility as defined in Section 11-10, the Pollution Control Board, acting through its Chairman or his or her specifically authorized delegate, shall enter a finding and issue a certificate to that effect. The certificate shall require tax treatment as a pollution control facility, but only for the portion certified if only a portion is certified. The effective date of a certificate shall be the date of application for the certificate or the date of the construction of the facility, whichever is later.
(Source: P.A. 100-201, eff. 8-18-17.)

35 ILCS 200/11-30

    (35 ILCS 200/11-30)
    Sec. 11-30. Powers and duties of the certifying board. Before denying any certificate, the Pollution Control Board shall give reasonable notice in writing to the applicant and provide the applicant a reasonable opportunity for a fair hearing. On like notice to the holder and opportunity for hearing, the Board may on its own initiative revoke or modify a pollution control certificate or a low sulfur dioxide emission coal fueled device certificate whenever any of the following appears:
        (a) the certificate was obtained by fraud or
    
misrepresentation;
        (b) the holder of the certificate has failed
    
substantially to proceed with the construction, reconstruction, installation, or acquisition of pollution control facilities or a low sulfur dioxide emission coal fueled device; or
        (c) the pollution control facility to which the
    
certificate relates has ceased to be used for the primary purpose of pollution control and is being used for a different purpose.
    Prompt written notice of the Board's action upon any application shall be given to the applicant together with a written copy of the Board's findings and certificate, if any.
(Source: P.A. 82-134; 88-455.)

35 ILCS 200/Art. 11 Div. 2

 
    (35 ILCS 200/Art. 11 Div. 2 heading)
Division 2. Low sulfur dioxide coal fueled devices

35 ILCS 200/11-35

    (35 ILCS 200/11-35)
    Sec. 11-35. Low sulfur dioxide emission coal fueled devices. It is the policy of this State that the use of low sulfur dioxide emission coal fueled devices should be encouraged as conserving nonrenewable resources, reducing pollution and promoting the use of abundant, high-sulfur, locally available coal as well as promoting the health and well-being of the people of this State, and should be valued at 33 1/3% of their fair cash value.
(Source: P.A. 83-121; 88-455.)

35 ILCS 200/11-40

    (35 ILCS 200/11-40)
    Sec. 11-40. Definition of low sulfur dioxide emission coal fueled devices. "Low sulfur dioxide emission coal fueled devices" means any device used or intended for the purpose of burning, combusting or converting locally available coal in a manner which eliminates or significantly reduces the need for additional sulfur abatement that would otherwise be required under State or Federal air emission standards. The word "device" includes all machinery, equipment, structures and all related apparatus, including coal feeding equipment, of a coal gasification facility designed to convert locally available coal into a low sulfur gaseous fuel and to manage all waste and by-product streams.
(Source: P.A. 82-134; 88-455.)

35 ILCS 200/11-45

    (35 ILCS 200/11-45)
    Sec. 11-45. Method of valuation for low sulfur dioxide emission coal fueled devices. To determine 33 1/3% of the fair cash value of any low sulfur dioxide emission coal fueled device, the Department shall determine the net value which could be realized by its owner if the device were removed and sold at a fair, voluntary sale, giving due account to the expense of removal, site restoration, and transportation. That net value shall be considered to be 33 1/3% of fair cash value.
(Source: P.A. 82-134; 88-455.)

35 ILCS 200/11-50

    (35 ILCS 200/11-50)
    Sec. 11-50. Certification and assessment authority. For tax purposes, a low sulfur dioxide emission coal fueled device shall be certified as such by the Pollution Control Board and shall be assessed by the Department.
(Source: P.A. 82-134; 88-455.)

35 ILCS 200/11-55

    (35 ILCS 200/11-55)
    Sec. 11-55. Approval procedure. Application for approval of a low sulfur dioxide emission coal fueled device shall be filed with the Pollution Control Board in the manner and form prescribed by that board. The application shall contain appropriate and available descriptive information concerning anything claimed to be entitled to tax treatment as a low sulfur dioxide emission coal fueled device as defined in this Code. If it is found that the claimed device meets that definition, the Pollution Control Board, acting through its Chairman or its specifically authorized delegate, shall enter a finding and issue a certificate that requires tax treatment as a low sulfur dioxide emission coal fueled device. The effective date of a certificate shall be on January 1 preceding the date of certification or preceding the date construction or installation of the device commences, whichever is later.
(Source: P.A. 82-134; 88-455.)

35 ILCS 200/11-60

    (35 ILCS 200/11-60)
    Sec. 11-60. Judicial review; pollution control and low sulfur devices. Any applicant or holder aggrieved by the issuance, refusal to issue, denial, revocation, modification or restriction of a pollution control certificate or a low sulfur dioxide emission coal fueled device certificate may appeal the finding and order of the Pollution Control Board, under the Administrative Review Law.
(Source: P.A. 82-783; 88-455.)

35 ILCS 200/11-65

    (35 ILCS 200/11-65)
    Sec. 11-65. Procedures for assessment; pollution control and low sulfur devices. Proceedings for assessment or reassessment of property certified to be pollution control facilities or low sulfur dioxide emission coal fueled devices shall be conducted in accordance with procedural regulations issued by the Department, in conformity with this Code.
(Source: P.A. 82-134; 88-455.)

35 ILCS 200/Art. 11 Div. 3

 
    (35 ILCS 200/Art. 11 Div. 3 heading)
Division 3. Railroads

35 ILCS 200/11-70

    (35 ILCS 200/11-70)
    Sec. 11-70. Assessment of railroad companies; definitions. These words and phrases, for the assessment of the property of railroad companies, and unless otherwise required by the context shall be defined as follows:
    (a) "Railroad company," "railroad," or "company" means any person, company, corporation or association owning, operating or constructing a railroad, a suburban or interurban railroad, a switching or terminal railroad, a railroad station, or a railroad bridge in this State.
    (b) "Operating property" means all tracks and right of way, all structures and improvements on that right of way, all rights and franchises, all rolling stock and car equipment, and all other property, real or personal, tangible or intangible connected with or used in the operation of the railroad including real estate contiguous to railroad right of way or station grounds held for reasonable expansion or future development.
    (c) "Non-operating personalty" means all personal property, tangible and intangible, held by any railroad company and not included in the definition of "operating property".
    (d) "Non-carrier real estate" means all land, and improvements on that land, not situated on the right of way of the railroad and not used as operating property within the meaning of the definition in paragraph (b). Improvements owned by others and situated on the right of way not used in the operations of the railroad shall be deemed to be "non-carrier real estate." The Department shall adopt proper rules and regulations to determine whether any property is "non-carrier real estate."
    (e) "Trackage rights" or "trackage right agreement" means the right by which one railroad company operates trains in scheduled service over tracks owned and used by another railroad company and the valuation of trackage rights shall include the value of all rolling stock, and all tangible or intangible personal property used or connected therewith.
(Source: P.A. 81-1stSS-1; 88-455.)

35 ILCS 200/11-75

    (35 ILCS 200/11-75)
    Sec. 11-75. Assessment date for railroad companies. The Department shall assess all property owned or used by railroad companies operating within this State, as of January first annually, except property found by the Department to be non-carrier real estate.
    The assessment of the property of any railroad company shall be based upon the value of property defined in Section 11-70, less the percentage of the total value which consists of operating or non-operating personal property.
(Source: P.A. 86-173; 86-905; 86-1028; 88-455.)

35 ILCS 200/11-80

    (35 ILCS 200/11-80)
    Sec. 11-80. Assessment procedure for railroad companies. In assessing the taxable property of any railroad company, the Department shall first determine 33 1/3% of the fair cash value of all the property of any railroad company as a unit, but shall make due allowance for any non-carrier real estate and all personalty.
    The Department shall take into consideration the actual or market value of the shares of stock outstanding, the actual or market value of all bonds outstanding and all other indebtedness as is applicable, for operating the road. In determining the market value of the stock or indebtedness the Department shall consider quotations for the 5 years preceding the assessment date; the net earnings of the company during the 5 calendar years preceding the assessment date; and such other information as the Department may consider as bearing on the fair cash value of the property. The valuation by the Department shall include capital stock and all other property of railroad companies, except non-carrier real estate. The above facts shall not be conclusive upon the Department in determining 33 1/3% of the fair cash value of the property of a railroad company.
    The Department shall determine the equalized assessed value of the taxable property of every railroad company by applying to its determination of 33 1/3% of the fair cash value of the property an equalization factor equal to the statewide average ratio of the equalized assessed value of locally assessed property to 33 1/3% of the fair cash value of such locally assessed property.
    The Department shall assess the value of all operating property acquired by a railroad company or its wholly-owned subsidiary by trade with a municipality, which is situated in a state contiguous to Illinois, at no greater value than the value of the operating property traded to the municipality for the property by the railroad company. The value shall be that value established for the year immediately preceding the calendar year of the trade. The assessment shall not increase, but may decrease, during the 10 years following the calendar year of the trade.
(Source: P.A. 86-173; 86-905; 86-1028; 88-455.)

35 ILCS 200/11-80.1

    (35 ILCS 200/11-80.1)
    Sec. 11-80.1. High-speed passenger rail project. Due to the importance of developing high-speed or faster rail service, the General Assembly finds that it should encourage freight railroad owners to participate in State and federal government programs, including cooperative agreements designed to increase the speed of passenger rail service, that participation in those programs should not result in increased property taxes, and that such an increase in property taxes could negatively impact the participation in those programs. Therefore, the Department shall take into consideration any potential increase in a property's overall valuation that is directly attributable to the investment, improvement, replacement, or expansion of railroad operating property on or after January 1, 2010, through State or federal government programs, including cooperative agreements, necessary for higher speed passenger rail transportation. Any such increase in the property's overall valuation that is directly attributable to the investment, improvement, replacement, or expansion of railroad operating property on or after January 1, 2010, through State or federal government programs necessary for higher speed passenger rail transportation, including cooperative agreements, shall be excluded from the valuation of its real property improvements under Section 11-80. This Section applies on and after the effective date of this amendatory Act of the 97th General Assembly and through December 31, 2029.
(Source: P.A. 101-186, eff. 8-2-19.)

35 ILCS 200/11-85

    (35 ILCS 200/11-85)
    Sec. 11-85. Property schedules. Every railroad company shall, on or before June 1 of each year, when required, make out and file with the Department a statement or schedule showing the property held for right of way, whether owned, leased, or operated under trackage right agreement, and the length of the first, second, third and other main and all side tracks and turnouts, and the number of acres of right of way in each county of this State and in each taxing district of this State, through or into which the road may run. It shall describe all improvements and stations located on the right of way, giving the quantity, quality, character and original cost of each. It shall also report all non-operating personalty owned or controlled by the company on January 1, giving the quantity, quality, character and location of the same. The report shall also include any potential increase in the property's overall valuation that is directly attributable to the investment, improvement, replacement, or expansion of railroad operating property on or after January 1, 2010, through State or federal governmental programs, including cooperative agreements, necessary for higher speed passenger rail transportation through December 31, 2029. New companies shall make the statement on or before the June 1 after the location of their road.
    When the statement has once been made, it is not necessary to report the description as required above unless directed to do so by the Department, but the company shall, on or before June 1, annually, report all additions or changes in its property in this State as have occurred.
    The return required by this Section should be made by the using company, but all property which is operated under one control shall be returned as provided in this Section.
(Source: P.A. 101-186, eff. 8-2-19.)

35 ILCS 200/11-90

    (35 ILCS 200/11-90)
    Sec. 11-90. Information schedules. Each year every railroad company in this State shall return to the Department, in addition to any other information required by this Code, sworn statements or schedules as follows:
        (a) The amount of capital stock authorized and the
    
total number of shares of capital stock.
        (b) The amount of capital stock issued and
    
outstanding.
        (c) The market value, or if no market value then the
    
estimated value, of the shares of stock outstanding.
        (d) The total amount of all bonds outstanding and all
    
other indebtedness.
        (e) The market value, or if no market value then the
    
estimated value, of all bonds outstanding and all other indebtedness.
        (f) A statement in detail of the entire gross
    
receipts and net earnings of the company during the 5 calendar years preceding the assessment date within this State, and of the entire system from all sources.
        (g) The length of the first, second, third and other
    
main tracks and all side tracks and turnouts showing the proportions within this State and elsewhere.
        (h) The reproduction cost of the property within
    
Illinois and the total reproduction cost of all property of the company. The reproduction cost, so far as applicable, shall be as last determined by the United States Interstate Commerce Commission, or other competent authority, plus additions and betterments, less retirements and depreciation to the December 31 preceding the assessment date.
        (i) An enumeration and classification of all rolling
    
stock and car equipment owned or leased by the company. The classification shall show type of equipment and circumstances of ownership and use. The enumeration shall include rolling stock used over the track of other companies under any trackage right agreement. All other property used in connection with a trackage right agreement shall be listed.
        (j) Any other information the Department may require
    
to determine the fair cash value of the property of any railroad company, or necessary to carry out the provisions of this Code, including information pertaining to any potential increases in the property's overall valuation that is directly attributable to the investment, improvement, replacement, or expansion of railroad operating property on or after January 1, 2010, through State or federal governmental programs, including cooperative agreements, necessary for higher speed passenger rail transportation through December 31, 2029.
    Such statements or schedules shall conform to the instructions and forms prescribed by the Department.
    In cases where a railroad company uses property owned by another, the return shall be made by the using company and all property operated under one control shall be returned as provided above.
(Source: P.A. 101-186, eff. 8-2-19.)

35 ILCS 200/11-95

    (35 ILCS 200/11-95)
    Sec. 11-95. Listing of non-carrier real estate. Every railroad company subject to assessment in this State shall annually return to the Department a list of its non-carrier real estate in this State, providing its description, the current assessed value, and the estimated true value of all non-carrier real estate both within and outside of this State, and any other information the Department may require. The Department shall examine the list and make whatever additions or alterations it may find necessary, and transmit to the proper assessing officials of each county in which non-carrier real estate is located, the list described above, together with any other information it considers pertinent. If additions or alterations to the list are made by the Department, the revised list shall also be sent to the reporting carrier. The proper assessing officials of each county shall then assess the non-carrier real estate in the same manner as similar locally assessed property belonging to individuals, except that it shall be treated as property belonging to railroads. If any parcels are not platted, any description is sufficient which would enable a competent surveyor to locate the property.
    Property listed as non-carrier real estate shall also include the property index number in counties where such a numbering system has been adopted.
(Source: P.A. 84-777; 84-1013; 88-455.)

35 ILCS 200/11-100

    (35 ILCS 200/11-100)
    Sec. 11-100. Proration of value; property outside of State. If any railroad company owns or uses operating property partly within and partly outside of this State, the Department shall determine the value of the entire operating property of the railroad but shall take only that part of the entire value as is represented by the average percentage of (a) the length of all track including main, second and additional main track, side track and turnouts within this State, (b) its gross revenues arising from railroad operations in this State, (c) the reproduction cost of its operating property within this State, as determined by the Interstate Commerce Commission of the United States, or other competent authority, plus additions and betterments, less retirements and depreciation. Nothing in this section shall be construed to preclude the use or substitution of other factors or methods as may appear reasonable and necessary in determining the proportion of a railroad's operating property within this State.
(Source: Laws 1939, p. 886; P.A. 88-455.)

35 ILCS 200/11-105

    (35 ILCS 200/11-105)
    Sec. 11-105. Description of railroad track. The right of way, including the superstructures of first, second, third and other main tracks and all side tracks and turnouts, and the stations and improvements of the railroad company on the right of way and all other taxable operating property of the railroad company shall be denominated "railroad track" and shall be so listed and valued. "Railroad track" shall be described in the assessment thereof as a strip of land extending on each side of the track and embracing the same, together with all the stations and improvements and other taxable operating property thereon, commencing where the track crosses the boundary line in entering the taxing district, and extending to where the track crosses the boundary line leaving the taxing district, or to the point of termination in the district, as the case may be, containing .... acres, more or less (inserting name of taxing district, boundary line of same, and number of acres and length in miles), and when advertised or sold for taxes no other description is necessary. Where a railroad company has taxable operating property in taxing districts in which it owns or uses no tracks or trackage rights, the property shall be described the same as similar property belonging to individuals.
(Source: P.A. 81-1stSS-1; 88-455.)