HB1629 Engrossed LRB096 05197 RLJ 15263 b

1     AN ACT concerning local government.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Property Tax Code is amended by adding
5 Section 18-184.10 as follows:
 
6     (35 ILCS 200/18-184.10 new)
7     Sec. 18-184.10. Abatement for newly annexed property. If
8 property is annexed by the City of Rockford under Section
9 7-1-13.5 of the Illinois Municipal Code, then (i) in the first
10 taxable year after the property is annexed, the county clerk
11 shall abate 75% of the property taxes imposed on that property
12 by the municipality, (ii) in the second taxable year after the
13 property is annexed, the county clerk shall abate 50% of the
14 property taxes imposed on that property by the municipality,
15 and (iii) in the third taxable year after the property is
16 annexed, the county clerk shall abate 25% of the property taxes
17 imposed on that property by the municipality.
 
18     Section 10. The Illinois Municipal Code is amended by
19 adding Section 7-1-13.5 as follows:
 
20     (65 ILCS 5/7-1-13.5 new)
21     Sec. 7-1-13.5. Annexation by the City of Rockford; tax

 

 

HB1629 Engrossed - 2 - LRB096 05197 RLJ 15263 b

1 abatement. If unincorporated territory, excluding single
2 parcels of property in excess of 60 acres located within the
3 territory, is wholly bounded by the City of Rockford, has been
4 so bounded for at least 10 years, and no petition for
5 incorporation has been filed for the territory, then the
6 territory may be annexed by the City of Rockford. The City of
7 Rockford must annex the property by ordinance. Within 30 days
8 after the passage of the annexation ordinance, a copy of the
9 ordinance and an accurate map of the territory annexed must be
10 filed with the recorder and county clerk of the county in which
11 the annexed territory is located.
12     If property is annexed by the City of Rockford pursuant to
13 this Section, then the taxes of the municipality shall be
14 abated on that property for the first 3 years as provided in
15 Section 18-184.10 of the Property Tax Code.
 
16     Section 99. Effective date. This Act takes effect upon
17 becoming law.