100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB5550

 

Introduced , by Rep. Jaime M. Andrade, Jr.

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/15-178 new

    Amends the Property Tax Code. Creates a homestead exemption for property if the owner: (i) replaces a lead-containing service line on the property with a service line that does not contain lead; and (ii) connects that line to a water main that does not contain lead or is replaced with a water main that does not contain lead at the same time as the improvements to the service line are made. Provides that the amount of the exemption is equal to the cost of replacing the lead-containing service lines on the property. Effective immediately.


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FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB5550LRB100 20170 HLH 35455 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Property Tax Code is amended by adding
5Section 15-178 as follows:
 
6    (35 ILCS 200/15-178 new)
7    Sec. 15-178. Lead service line replacement exemption.
8Beginning in taxable year 2019, a lead service line replacement
9exemption, to be taken as a reduction in the equalized assessed
10value of the property, is granted for homestead property with
11an equalized assessed value of less than $250,000 prior to
12application of the exemption under this Section. To be eligible
13for the exemption under this Section, the property owner must,
14during the taxable year: (i) replace a lead-containing service
15line on the property with a service line that does not contain
16lead; and (ii) connect that line to a water main that does not
17contain lead or is replaced with a water main that does not
18contain lead at the same time as the improvements to the
19service line are made.
20    The amount of the exemption under this Section shall be
21equal to the cost of replacing the lead-containing service
22lines on the property. Application for the exemption under this
23Section must be made during the application period in effect

 

 

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1for the county in which the property is located. The assessor
2or chief county assessment officer may determine the
3eligibility of the property to receive the homestead exemption
4provided by this Section by application, visual inspection,
5questionnaire, or other reasonable methods. The determination
6must be made in accordance with guidelines established by the
7Department.
8    As used in this Section, "homestead property" has the
9meaning given to that term in Section 15-175.
 
10    Section 99. Effective date. This Act takes effect upon
11becoming law.