91st General Assembly
Status of HB3983
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CURRY,JULIE.

   35 ILCS 200/18-168 new                                                      
   30 ILCS 805/8.24 new                                                        

        Amends the Property Tax Code.   Provides  that,  for  residential      
   property,  if the assessor fails to regularly assess the property on a      
   timely basis as  required  by  the   Code  and,  after  the  delay  in      
   assessment,  the  property is then assessed at a higher value than the      
   previous assessment, then, for taxable years 2000 and thereafter,  for      
   the  first  year  of  increased  taxes  as  a  result of the increased      
   assessment, the county clerk shall abate  the  property  taxes  in  an      
   amount  equal  to two-thirds of the difference in the tax bill between      
   the amount owed before the increased assessment and  the  amount  owed      
   after  the  increased assessment and, for the second year of increased      
   taxes, in an amount equal to one-third of the difference  in  the  tax      
   bill  between  the amount owed before the increased assessment and the      
   amount owed after the increased assessment.  Amends the State Mandates      
   Act to require implementation without reimbursement by the State.           
   Effective immediately.                                                      
   00-01-27  H  FILED WITH CLERK                                               
   00-01-27  H  FIRST READING                                                  
   00-01-27  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   01-01-09  H  SESSION SINE DIE                                               

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 Full Text  Bill Summary