PROP TX-OMITTED PROPERTY Senate SponsorsSen. Jeffrey M. Schoenberg House Sponsors(Rep. Bob Biggins-Harry Osterman) 1/13/2009SenateSession Sine Die 35 ILCS 200/9-26035 ILCS 200/9-26535 ILCS 200/9-270Amends the Property Tax Code concerning omitted assessments. Provides that in Cook County, the owner of any property may bring a complaint before the board of review to challenge the accuracy or validity of an omitted assessment. Requires the county assessor to publish information on the county's website concerning omitted assessments. Decreases the interest rate on omitted assessments from 10% to 1.8%. Provides that, before charging a tax and interest for previous years, the county assessor shall identify the owner of the property for each year for which liability accrued. Effective immediately.Senate Committee Amendment No. 1 Adds reference to:35 ILCS 200/14-35Deletes everything after the enacting clause. Amends the Property Tax Code. Sets forth notice requirements to be mailed to owners of omitted property. Provides that the valuation of omitted property is subject to a public hearing. Requires assessors to develop rules concerning the valuation of omitted property. Provides that taxes for omitted property must be prepared and mailed at the same time as the second installment tax bill (now, with the first installment). Provides that the interest on omitted taxes is 1.8% for assessments of $50,000 or less and 10% for assessments greater than $50,000 (now, 10% for all assessments). Requires that the assessor must complete the assessment of omitted properties before delivering the assessment books to the board of review. Makes other changes.Senate Floor Amendment No. 2 Deletes reference to:35 ILCS 200/9-26035 ILCS 200/9-27035 ILCS 200/14-35Deletes everything after the enacting clause. Amends the Property Tax Code. Provides that the board of review in counties with less than 3,000,000 inhabitants or the county assessor in counties with 3,000,000 or more inhabitants may develop reasonable procedures for the valuation of omitted propertyHouse Amendment No. 1 Deletes reference to:35 ILCS 200 9-265Adds reference to:35 ILCS 200/9-18035 ILCS 200/9-18535 ILCS 200/9-26035 ILCS 200/9-27035 ILCS 200/15-20Deletes everything after the enacting clause. Amends the Property Tax Code. Provides that a property owner must notify the assessor of any new improvements within 90 days (instead of 30 days) after the issuance of an occupancy permit or completion of the improvements. In a Section concerning omitted assessments, provides that no charge shall be made against a property if (i) the owner of the property gave notice of the failure to assess land, improvements, or both and requested a reassessment, (ii) the notice was sent by certified mail, return receipt requested, and (iii) reassessment of the property was not made within 40 months (instead of 16 months) following receipt of the notice. Provides that property may not be assessed for more than 5 years prior to the current assessment year if the property owner gave notice of the omitted assessment. Provides that a transferee must notify the assessor of any change in use, leasehold estate, or titleholder of record within 90 days after the change (instead of 30 days). Effective January 1, 2009. 2/15/2008SenateFiled with Secretary by Sen. Jeffrey M. Schoenberg 2/15/2008SenateFirst Reading 2/15/2008SenateReferred to Rules 2/28/2008SenateAssigned to Revenue 2/28/2008SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Jeffrey M. Schoenberg 2/28/2008SenateSenate Committee Amendment No. 1 Referred to Rules 3/5/2008SenateSenate Committee Amendment No. 1 Rules Refers to Revenue 3/6/2008SenateSenate Committee Amendment No. 1 Held in Revenue 3/6/2008SenateHeld in Revenue 3/12/2008SenateSenate Committee Amendment No. 1 Adopted 3/13/2008SenateDo Pass as Amended Revenue; 008-000-000 3/13/2008SenatePlaced on Calendar Order of 2nd Reading April 1, 2008 4/10/2008SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Jeffrey M. Schoenberg 4/10/2008SenateSenate Floor Amendment No. 2 Referred to Rules 4/15/2008SenateSenate Floor Amendment No. 2 Rules Refers to Revenue 4/16/2008SenateSenate Floor Amendment No. 2 Recommend Do Adopt Revenue; 008-000-000 4/16/2008SenateSecond Reading 4/16/2008SenateSenate Floor Amendment No. 2 Adopted; Schoenberg 4/16/2008SenatePlaced on Calendar Order of 3rd Reading April 17, 2008 4/17/2008SenateThird Reading - Passed; 055-000-000 4/17/2008HouseArrived in House 4/17/2008HousePlaced on Calendar Order of First Reading 4/25/2008HouseChief House Sponsor Rep. Harry Osterman 4/29/2008HouseFirst Reading 4/29/2008HouseReferred to Rules Committee 5/6/2008HouseAssigned to Revenue Committee 5/9/2008HouseCommittee Deadline Extended-Rule 9(b) May 23, 2008 5/20/2008HouseMoved to Suspend Rule 25 Rep. Barbara Flynn Currie 5/20/2008HouseMotion to Suspend Rule 25 - Prevailed 5/21/2008HouseAlternate Chief Sponsor Changed to Rep. Bob Biggins 5/21/2008HouseAdded Alternate Chief Co-Sponsor Rep. Harry Osterman 5/23/2008HouseFinal Action Deadline Extended-9(b) May 31, 2008 5/28/2008HouseHouse Amendment No. 1 Filed with Clerk by Revenue Committee 5/28/2008HouseHouse Amendment No. 1 Adopted in Revenue Committee; by Voice Vote 5/28/2008HouseDo Pass as Amended / Short Debate Revenue Committee; 008-000-000 5/28/2008HousePlaced on Calendar 2nd Reading - Short Debate 5/28/2008HouseSecond Reading - Short Debate 5/28/2008HouseHeld on Calendar Order of Second Reading - Short Debate 5/31/2008HousePlaced on Calendar Order of 3rd Reading - Short Debate 5/31/2008HouseRule 19(a) / Re-referred to Rules Committee 11/6/2008HouseFinal Action Deadline Extended-9(b) November 30, 2008 11/6/2008HouseApproved for Consideration Rules Committee; 003-000-000 11/7/2008HousePlaced on Calendar Order of 3rd Reading - Short Debate 11/30/2008HouseRule 19(a) / Re-referred to Rules Committee 1/13/2009SenateSession Sine Die