98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB5568

 

Introduced , by Rep. Brandon W. Phelps

 

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

    Amends the Property Tax Code. Provides that each taxing district may, by a majority vote of its governing authority, order the county clerk to abate any portion of its taxes on property that contains a structure operating as a small business if that structure has been rebuilt following a natural disaster occurring in taxable year 2012 or any taxable year thereafter. Defines "small business" to mean a business that employs fewer than 50 full-time employees. Effective immediately.


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

 

 

A BILL FOR

 

HB5568LRB098 17840 HLH 52964 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. Natural disaster abatement.
8    (a) Each taxing district may, by a majority vote of its
9governing authority, order the county clerk to abate any
10portion of its taxes on property that contains a structure
11operating as a small business if that structure has been
12rebuilt following a natural disaster occurring in taxable year
132012 or any taxable year thereafter. To be eligible for an
14abatement under this Section: (i) the structure must be rebuilt
15within 2 years after the date of the natural disaster; and (ii)
16the square footage of the rebuilt structure may not be more
17than 110% of the square footage of the original structure as it
18existed immediately prior to the natural disaster.
19    (b) To receive the exemption, the taxpayer shall submit an
20application to the chief county assessment officer of the
21county in which the property is located by July 1 of each
22taxable year. A county may, by resolution, establish a date for
23submission of applications that is different than July 1. The

 

 

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1chief county assessment officer may require additional
2documentation to be provided by the applicant.
3    (c) As used in this Section:
4    "Chief county assessment officer" means the County
5Assessor or Supervisor of Assessments of the county in which
6the property is located.
7    "Natural disaster" means an occurrence of widespread or
8severe damage or loss of property resulting from any
9catastrophic cause including but not limited to fire, flood,
10earthquake, wind, storm, or extended period of severe inclement
11weather. In the case of a structure affected by flooding, the
12structure shall not be eligible for this exemption unless it is
13located within a local jurisdiction which is participating in
14the National Flood Insurance Program. A proclamation of
15disaster by the President of the United States or Governor of
16the State of Illinois is not a prerequisite to the
17classification of an occurrence as a natural disaster under
18this Section.
19    "Small business" means a business that employs fewer than
2050 full-time employees.
 
21    Section 99. Effective date. This Act takes effect upon
22becoming law.