98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB4692

 

Introduced , by Rep. Michael J. Zalewski

 

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

    Amends the Property Tax Code. Provides that any county, municipality, village, or township may order the county clerk to abate all or a portion of the taxes levied by the county, municipality, village, or township on certain tool and die manufacturing business property. Provides that, upon approval of an abatement ordinance by the county, municipality, village, or township, any taxing district located in whole or in part within that county, municipality, village or township may also abate all or a portion of its taxes levied on that property. Effective immediately.


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FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

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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. Tool and manufacturing abatement.
8Beginning in taxable year 2015, any county, municipality,
9village, or township, upon approval of an ordinance or
10resolution, may abate all or a portion of the taxes levied by
11that county, municipality, village, or township on the property
12of a qualified tool and manufacturing business located within
13that county, municipality, village, or township. Following the
14approval of such an ordinance or resolution by a county,
15municipality, village, or township, any taxing district
16located in whole or in part within that county, municipality,
17village or township may also abate all or a portion of its
18taxes levied by the taxing district on the property of the
19qualified tool and manufacturing business. Such taxing
20district, upon approval of an ordinance or resolution, abating
21all or a portion of the taxes levied by the taxing district on
22the property of the qualified tool and manufacturing business
23located within the taxing district, shall order the county

 

 

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1clerk to abate all or a portion of the taxes levied by the
2taxing district on the property of the qualified tool and
3manufacturing business located within the taxing district.
4    "Qualified tool and manufacturing business" means a
5business with (i) fewer than 75 full-time employees and (ii) a
6North American Industrial Classification System (NAICS)
7subsector classification of:
8        Plastics and Rubber Products Manufacturing (326);
9        Primary Metal Manufacturing (331);
10        Fabricated Metal Product Manufacturing (332);
11        Machinery Manufacturing (333);
12        Computer and Electronic Product Manufacturing (334);
13        Electrical Equipment, Appliance, and Component
14    Manufacturing (335);
15        Transportation Equipment Manufacturing (336);
16        Furniture and Related Product Manufacturing (337); or
17        Miscellaneous Manufacturing (339).
18    "Qualified tool and manufacturing business property" means
19property owned by a qualified tool and manufacturing business
20and used by that business primarily for tool and manufacturing
21business operations. "Qualified tool and manufacturing
22business property" also includes property leased by a qualified
23tool and manufacturing business and used primarily for tool and
24manufacturing business operations if the qualified tool and
25manufacturing business is liable for paying real property taxes
26on the property. Qualified tool and manufacturing business

 

 

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1property is considered to be used primarily for tool and
2manufacturing business operations if 75% or more of the gross
3revenue of the tool and manufacturing business is generated
4from tool and manufacturing operations that take place on that
5property during the taxable year.
 
6    Section 99. Effective date. This Act takes effect upon
7becoming law.