PROP TX-LAND BANK Senate SponsorsSen. Kwame Raoul and Mattie Hunter-Jacqueline Y. Collins House Sponsors(Rep. Kelly Burke) 1/13/2015SenateSession Sine Die 35 ILCS 200/9-19535 ILCS 200/15-6035 ILCS 200/21-9530 ILCS 805/8.38 newAmends the Property Tax Code. Provides that certain property owned by a county, municipality, taxing district, unit of local government, or by one or more municipalities pursuant to an ordinance or intergovernmental agreement, that is held for land bank purposes is exempt from taxation under the Code. Provides that the property remains exempt even if the property is leased to another entity whose property is not exempt. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.Senate Floor Amendment No. 1 Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with changes. Provides that the provisions of the introduced bill apply only to land bank property owned by a county of more than 3,000,000 inhabitants or by one or more municipalities within such a county. Provides that the provisions of the introduced bill apply only if a land bank has been created to promote redevelopment or reuse of vacant, abandoned, or tax-delinquent properties, to support targeted efforts to stabilize neighborhoods, and to stimulate residential, commercial, and industrial development. Provides that leasehold interests with respect to that property are also exempt. Effective immediately. 2/14/2014SenateFiled with Secretary by Sen. Kwame Raoul 2/14/2014SenateFirst Reading 2/14/2014SenateReferred to Assignments 2/25/2014SenateAssigned to Local Government 3/5/2014SenateDo Pass Local Government; 008-001-000 3/5/2014SenatePlaced on Calendar Order of 2nd Reading March 6, 2014 3/21/2014SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Kwame Raoul 3/21/2014SenateSenate Floor Amendment No. 1 Referred to Assignments 3/25/2014SenateSenate Floor Amendment No. 1 Assignments Refers to Local Government 3/26/2014SenateSenate Floor Amendment No. 1 Postponed - Local Government 4/2/2014SenateSenate Floor Amendment No. 1 Recommend Do Adopt Local Government; 012-000-000 4/8/2014SenateSecond Reading 4/8/2014SenateSenate Floor Amendment No. 1 Adopted; Raoul 4/8/2014SenatePlaced on Calendar Order of 3rd Reading April 9, 2014 4/9/2014SenateAdded as Co-Sponsor Sen. Mattie Hunter 4/9/2014SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins 4/9/2014SenateThird Reading - Passed; 047-000-000 4/9/2014HouseArrived in House 4/9/2014HouseChief House Sponsor Rep. Kelly Burke 4/9/2014HouseFirst Reading 4/9/2014HouseReferred to Rules Committee 1/13/2015SenateSession Sine Die