PROP TX-ASSESSMENT FREEZE PROG Senate SponsorsSen. Antonio Muņoz-Jacqueline Y. Collins, John G. Mulroe-Iris Y. Martinez, Steve Stadelman, Pamela J. Althoff-Michael E. Hastings-Mattie Hunter and Emil Jones, III House Sponsors(Rep. Arthur Turner-David Harris-David McSweeney-Elgie R. Sims, Jr., Thaddeus Jones, Christian L. Mitchell and William Davis) 12/30/2014SenatePublic Act . . . . . . . . . 98-1143 35 ILCS 200/15-190 newAmends the Property Tax Code. Creates a reduction for improvements to foreclosed property. Provides that the assessed value of those improvements shall be reduced 10% of the equalized assessed value of the improvements on June 30, 2012. Provides that the reduction shall be for a period of 5 years, and is subject to certain conditions. Effective immediately.Senate Committee Amendment No. 1 Deletes reference to:35 ILCS 200/15-190 newAdds reference to:35 ILCS 200/15-174 newReplaces everything after the enacting clause. Amends the Property Tax Code. Creates the residential foreclosure to affordable housing assessment freeze law. Creates a reduction for improvements to foreclosed property. Provides that the chief county assessment officer shall reduce the assessed value of those improvements to 10% of the assessed value of those improvements for 5 taxable years if certain criteria are met. Effective January 1, 2014.Senate Floor Amendment No. 2 Replaces everything after the enacting clause. Amends the Property Tax Code. Creates the Community Stabilization Assessment Freeze Pilot Program. Provides that any the chief county assessment officer in a county with 3,000,000 or more inhabitants may reduce the assessed value of certain improvements to residential real property for 10 taxable years after the improvements are put in service if certain conditions are met and the residence is located in a census tract where more than 10% of the residences have had at least one foreclosure filing since the 2005 calendar year.House Committee Amendment No. 2 Replaces everything after the enacting clause. Reinserts the provisions of the engrossed bill with changes. Provides that the reduction in the equalized assessed value of the improvements is calculated as follows: (1) an amount equal to 90% of the difference between the base year equalized assessed value of the improvements and the assessed value of the improvements in the current taxable year for the first 7 years after the improvements are placed in service; (2) an amount equal to 65% of the difference between the base year equalized assessed value of the improvements and the assessed value of the improvements in the current taxable year for the eighth taxable year after the improvements are placed in service; and (3) an amount equal to 35% of the difference between the base year equalized assessed value of the improvements and the assessed value of the improvements in the current taxable year for the ninth taxable year after the improvements are placed in service. Provides that the bill applies in all counties (instead of counties with 3,000,000 or more inhabitants). Adds a provision to the list of requirements for the assessment freeze providing that the purchase price may not exceed the Federal Housing Administration's loan limits then in place for the area in which the improvement is located; requires the taxpayer to provide evidence that the purchase price does not exceed those limits. Provides that the benefit does not apply if the property was transferred by a tax sale. Provides that, if there is a transfer of ownership during the period of the assessment freeze, then the benefit shall not apply to that property on or after the date of that transfer unless (i) the property is conveyed by an owner who does not occupy the improvements as a primary residence to an owner who will occupy the improvements as a primary residence and (ii) all requirements of this Section continue to be met. Makes changes to the definition of "targeted area".House Floor Amendment No. 4 Deletes reference to:35 ILCS 200/15-174 newAdds reference to:35 ILCS 200/9-275Replaces everything after the enacting clause. Amends the Property Tax Code. Makes the following changes in a Section concerning erroneous homestead exemptions: (1) provides that the term "erroneous exemption principal amount" means the total difference between the property taxes actually billed to a property index number and the amount of property taxes that would have been billed but for the erroneous exemption or exemptions (instead of the total property tax principal that would have been billed to a property index number but for the erroneous homestead exemption or exemptions a taxpayer received); (2) provides that, upon becoming aware of the existence of one or more erroneous homestead exemptions, the chief county assessment officer shall serve the taxpayer with a notice of discovery, and sets forth the contents of the notice of discovery; (3) provides that the chief county assessment officer shall cause the notice of intent to record a lien to be served within 3 years from the date on which the notice of discovery was served; (4) provides that it is the responsibility of the taxpayer to record the lien release form with the county recorder of deeds and to pay any applicable recording fees; (5) changes the term "property owner" to "taxpayer" wherever it occurs in the Section. Effective January 1, 2015. 2/15/2013SenateFiled with Secretary by Sen. Donne E. Trotter 2/15/2013SenateFirst Reading 2/15/2013SenateReferred to Assignments 2/27/2013SenateAssigned to Revenue 3/6/2013SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins 3/6/2013SenatePostponed - Revenue 3/7/2013SenateAdded as Co-Sponsor Sen. John G. Mulroe 3/13/2013SenateAdded as Chief Co-Sponsor Sen. Iris Y. Martinez 3/13/2013SenatePostponed - Revenue 3/15/2013SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Donne E. Trotter 3/15/2013SenateSenate Committee Amendment No. 1 Referred to Assignments 3/19/2013SenateSenate Committee Amendment No. 1 Assignments Refers to Revenue 3/20/2013SenateSenate Committee Amendment No. 1 Adopted 3/20/2013SenateDo Pass as Amended Revenue; 011-000-000 3/20/2013SenatePlaced on Calendar Order of 2nd Reading March 21, 2013 4/8/2013SenateAdded as Co-Sponsor Sen. Steve Stadelman 4/23/2013SenateAdded as Co-Sponsor Sen. Pamela J. Althoff 4/30/2013SenateRe-referred to Assignments 4/1/2014SenateApproved for Consideration Assignments 4/1/2014SenatePlaced on Calendar Order of 2nd Reading April 2, 2014 4/1/2014SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Donne E. Trotter 4/1/2014SenateSenate Floor Amendment No. 2 Referred to Assignments 4/2/2014SenateSenate Floor Amendment No. 2 Assignments Refers to Revenue 4/3/2014SenateSenate Floor Amendment No. 2 Recommend Do Adopt Revenue; 011-000-000 4/3/2014SenateSecond Reading 4/3/2014SenateSenate Floor Amendment No. 2 Adopted; Trotter 4/3/2014SenatePlaced on Calendar Order of 3rd Reading April 7, 2014 4/8/2014SenateAdded as Chief Co-Sponsor Sen. Michael E. Hastings 4/8/2014SenateAdded as Chief Co-Sponsor Sen. Mattie Hunter 4/8/2014SenateAdded as Co-Sponsor Sen. Emil Jones, III 4/8/2014SenateThird Reading - Passed; 053-001-000 4/9/2014HouseArrived in House 4/9/2014HouseChief House Sponsor Rep. Jack D. Franks 4/9/2014HouseFirst Reading 4/9/2014HouseReferred to Rules Committee 4/10/2014HouseAlternate Chief Sponsor Changed to Rep. Arthur Turner 4/10/2014HouseAdded Alternate Chief Co-Sponsor Rep. Jack D. Franks 4/28/2014HouseAssigned to Revenue & Finance Committee 5/1/2014HouseTo Property Tax Subcommittee 5/6/2014HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Arthur Turner 5/6/2014HouseHouse Committee Amendment No. 1 Referred to Rules Committee 5/16/2014HouseRule 19(a) / Re-referred to Rules Committee 5/29/2014HouseFinal Action Deadline Extended-9(b) May 30, 2014 5/29/2014HouseAssigned to Revenue & Finance Committee 5/29/2014HouseHouse Committee Amendment No. 2 Filed with Clerk by Rep. Arthur Turner 5/29/2014HouseHouse Committee Amendment No. 2 Referred to Rules Committee 5/29/2014HouseHouse Committee Amendment No. 2 Rules Refers to Revenue & Finance Committee 5/29/2014HouseMotion Filed to Suspend Rule 21 Revenue & Finance Committee; Rep. Arthur Turner 5/29/2014HouseMotion to Suspend Rule 21 - Prevailed 5/29/2014HouseAdded Alternate Chief Co-Sponsor Rep. Elgie R. Sims, Jr. 5/30/2014HouseHouse Committee Amendment No. 2 Adopted in Revenue & Finance Committee; by Voice Vote 5/30/2014HouseDo Pass as Amended / Short Debate Revenue & Finance Committee; 010-000-000 5/30/2014HouseHouse Committee Amendment No. 1 Tabled Pursuant to Rule 40 5/30/2014HousePlaced on Calendar 2nd Reading - Short Debate 5/30/2014HouseAdded Alternate Co-Sponsor Rep. Thaddeus Jones 5/30/2014HouseAdded Alternate Co-Sponsor Rep. Christian L. Mitchell 5/30/2014HouseAdded Alternate Chief Co-Sponsor Rep. David Harris 5/30/2014HouseAdded Alternate Chief Co-Sponsor Rep. David McSweeney 5/30/2014HouseAlternate Chief Co-Sponsor Removed Rep. Jack D. Franks 5/30/2014HouseAdded Alternate Co-Sponsor Rep. William Davis 5/30/2014HouseSecond Reading - Short Debate 5/30/2014HousePlaced on Calendar Order of 3rd Reading - Short Debate 5/30/2014HouseRule 19(a) / Re-referred to Rules Committee 11/6/2014HouseApproved for Consideration Rules Committee; 004-000-000 11/6/2014HousePlaced on Calendar Order of 3rd Reading - Short Debate 11/17/2014HouseHouse Floor Amendment No. 3 Filed with Clerk by Rep. John E. Bradley 11/17/2014HouseHouse Floor Amendment No. 3 Referred to Rules Committee 11/18/2014HouseHouse Floor Amendment No. 3 Rules Refers to Revenue & Finance Committee 11/18/2014HouseHouse Floor Amendment No. 4 Filed with Clerk by Rep. John E. Bradley 11/18/2014HouseHouse Floor Amendment No. 4 Referred to Rules Committee 11/18/2014HouseHouse Floor Amendment No. 4 Rules Refers to Revenue & Finance Committee 11/19/2014HouseHouse Floor Amendment No. 4 Recommends Be Adopted Revenue & Finance Committee; 010-000-000 11/19/2014SenateChief Sponsor Changed to Sen. Antonio Muņoz 11/19/2014HouseRecalled to Second Reading - Short Debate 11/19/2014HouseHouse Floor Amendment No. 4 Adopted 11/19/2014HousePlaced on Calendar Order of 3rd Reading - Short Debate 11/20/2014House3/5 Vote Required 11/20/2014HouseThird Reading - Short Debate - Passed 112-000-000 11/20/2014HouseHouse Floor Amendment No. 3 Tabled Pursuant to Rule 40 11/20/2014SenateSecretary's Desk - Concurrence House Amendment(s) 2, 4 11/20/2014SenatePlaced on Calendar Order of Concurrence House Amendment(s) 2, 4 - December 2, 2014 12/1/2014SenateHouse Committee Amendment No. 2 Motion to Concur Filed with Secretary Sen. Antonio Muņoz 12/1/2014SenateHouse Committee Amendment No. 2 Motion to Concur Referred to Assignments 12/1/2014SenateHouse Floor Amendment No. 4 Motion to Concur Filed with Secretary Sen. Antonio Muņoz 12/1/2014SenateHouse Floor Amendment No. 4 Motion to Concur Referred to Assignments 12/2/2014SenateHouse Committee Amendment No. 2 Motion to Concur Assignments Referred to Revenue 12/2/2014SenateHouse Floor Amendment No. 4 Motion to Concur Assignments Referred to Revenue 12/2/2014SenateHouse Committee Amendment No. 2 Motion to Concur Assignments Referred to Executive 12/2/2014SenateHouse Floor Amendment No. 4 Motion to Concur Assignments Referred to Executive 12/2/2014SenateHouse Committee Amendment No. 2 Motion To Concur Recommended Do Adopt Executive; 012-000-000 12/2/2014SenateHouse Floor Amendment No. 4 Motion To Concur Recommended Do Adopt Executive; 012-000-000 12/3/2014Senate3/5 Vote Required 12/3/2014SenateHouse Committee Amendment No. 2 Senate Concurs 057-000-000 12/3/2014SenateHouse Floor Amendment No. 4 Senate Concurs 057-000-000 12/3/2014SenatePassed Both Houses 12/15/2014SenateSent to the Governor 12/30/2014SenateGovernor Approved 12/30/2014SenateEffective Date January 1, 2015 12/30/2014SenatePublic Act . . . . . . . . . 98-1143