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91_SB0184
LRB9102134PTpk
1 AN ACT concerning property taxes.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Property Tax Code is amended by adding
5 Section 9-182 as follows:
6 (35 ILCS 200/9-182 new)
7 Sec. 9-182. Cellular tower assessment. Beginning in
8 taxable year 1999, notwithstanding Section 1-55, property on
9 which a cellular tower is located and the improvements on
10 that property must be assessed at 33 and one-third percent of
11 income producing value, instead of fair cash value. The
12 Department must define by rule "income producing value".
13 Section 90. The State Mandates Act is amended by adding
14 Section 8.23 as follows:
15 (30 ILCS 805/8.23 new)
16 Sec. 8.23. Exempt mandate. Notwithstanding Sections 6
17 and 8 of this Act, no reimbursement by the State is required
18 for the implementation of any mandate created by this
19 amendatory Act of the 91st General Assembly.
20 Section 99. Effective date. This Act takes effect upon
21 becoming law.