101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB5284

 

Introduced , by Rep. Chris Miller

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/18-184.15 new

    Amends the Property Tax Code. Creates an abatement for property located in a blighted area if the owner of the property enters into an agreement with the corporate authorities of the municipality in which the property is located for the renovation, demolition, or improvement of the property. Provides that the abatement shall apply for a period of 10 years and may be extended for an additional 10 years if the chief county assessment officer finds that the property owner has made a good faith effort to renovate, demolish, or improve the property. Effective immediately.


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

 

 

A BILL FOR

 

HB5284LRB101 16915 HLH 66314 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 18-184.15 as follows:
 
6    (35 ILCS 200/18-184.15 new)
7    Sec. 18-184.15. Revitalization abatement.
8    (a) For assessment year 2021 and thereafter, the corporate
9authorities may, by ordinance, designate one or more blighted
10areas within the municipality. If the owner of any property
11located within a designated blighted area enters into an
12agreement with the corporate authorities of the municipality
13for the renovation, demolition, or improvement of blighted
14property, then the corporate authorities of the municipality
15may order the county clerk to abate a portion of the taxes
16levied by the municipality and any other taxing district on
17that property. The amount of the abatement may not exceed the
18difference between (i) the amount of property taxes paid with
19respect to that property in the base year and (ii) the amount
20of property taxes that would otherwise be due in the current
21assessment year. An abatement adopted under this Section shall
22be extended to all subsequent owners of an eligible property
23during the abatement period. The abatement shall apply for a

 

 

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1period of 10 years and may be extended for an additional 10
2years if the chief county assessment officer finds that the
3property owner has made a good faith effort to renovate,
4demolish, or improve the property.
5    (b) Before final adoption of an abatement ordinance under
6this Section, the governing authority of the municipality shall
7notify each affected taxing district of the pending ordinance
8by mail. The governing authority of each affected taxing
9district shall, within 10 days after the ordinance is proposed,
10appoint one member to serve on an Abatement Review Board to
11review the terms and conditions of the proposed abatement
12ordinance. The Board shall be convened by the mayor or village
13president of the municipality considering the abatement
14ordinance. The ordinance shall be adopted not less than 45 days
15after the Board is convened. Failure to appoint a member to the
16Board does not affect work of the Board. The Board shall report
17the findings and conclusions to the governing authority of the
18municipality not later than 30 days after it is convened.
19    (c) As used in this Section, "base year" means the
20assessment year prior to the assessment year in which the
21taxpayer enters into an agreement with the corporate
22authorities of the municipality.
 
23    Section 99. Effective date. This Act takes effect upon
24becoming law.