98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB4222

 

Introduced , by Rep. Rich Brauer

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/10-146 new

    Amends the Property Tax Code. Provides that, beginning with the 2014 taxable year, all barns that were first placed in service more than 75 years before the first day of the taxable year and are located in areas zoned for agriculture shall have an assessed value of zero. Effective immediately.


LRB098 16524 HLH 51591 b

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

 

 

A BILL FOR

 

HB4222LRB098 16524 HLH 51591 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 10-146 as follows:
 
6    (35 ILCS 200/10-146 new)
7    Sec. 10-146. Valuation of barns that are more than 75 years
8old and located in areas zoned for agriculture.
9    (a) Beginning with the 2014 taxable year, all barns that
10were first placed in service more than 75 years before the
11first day of the taxable year and are located in areas zoned
12for agriculture shall have an assessed value of zero.
13    (b) For purposes of this Section, "barn" means an
14agricultural structure, in whatever shape or design, that is
15used for the storage of farm products or feed or for the
16housing of farm animals or farm equipment.
 
17    Section 99. Effective date. This Act takes effect upon
18becoming law.