Illinois General Assembly - Bill Status for SB0700
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 Bill Status of SB0700  94th General Assembly

Short Description:  REVENUE-TECH

Senate Sponsors
Sen. Terry Link - Don Harmon - Emil Jones, Jr. - Louis S. Viverito - Jacqueline Y. Collins, Iris Y. Martinez, Antonio Munoz, Mattie Hunter, Miguel del Valle, James A. DeLeo, Rickey R. Hendon, M. Maggie Crotty, Martin A. Sandoval, Susan Garrett, Donne E. Trotter, Kimberly A. Lightford, John J. Cullerton, Ira I. Silverstein, Jeffrey M. Schoenberg and Cheryl Axley

Last Action
DateChamber Action
  1/9/2007SenateSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 200/1-150


Synopsis As Introduced
Amends the Property Tax Code. Makes a technical change in a Section concerning the definition of "taxing district".

 Fiscal Note (S-AM 1) (Dept. of Revenue)
 There is no state fiscal impact. The impact on local governments comes in three ways. (1) It makes the Alternative General Homestead Exemption (AGHE) created pursuant to Public Act 93-715 permanent in Cook County, where two thirds of the way through the implementation no loss to taxing districts has been identified. (2) It allows any of the 101 other counties another opportunity to opt into the AGHE. The fiscal impact cannot be calculated, but will depend upon how many counties opt in and whether they have properties increasing more than 7% in value annually. When the AGHE was originally offered in 2004, no county except Cook chose to adopt it. The difference between Cook County, which does not equalize between triennial reassessments and other counties that do, would reduce use of the AGHE in other counties. (3) It removes the $20,000 maximum on the AGHE. In Chicago, there were 75,000 out of 357,000 homestead properties on which the AGHE's hit the 20,000 cap the first year, primarily among higher-priced properties. The fiscal impact cannot be calculated, but the Department has contracted for a detailed study that will provide this information for Cook County.

Actions 
DateChamber Action
  2/18/2005SenateFiled with Secretary by Sen. Don Harmon
  2/18/2005SenateChief Co-Sponsor Sen. Emil Jones, Jr.
  2/18/2005SenateFirst Reading
  2/18/2005SenateReferred to Rules
  2/18/2005SenateChief Co-Sponsor Changed to Sen. Emil Jones, Jr.
  2/24/2005SenateAssigned to Revenue
  3/10/2005SenateDo Pass Revenue; 006-003-000
  3/10/2005SenatePlaced on Calendar Order of 2nd Reading March 15, 2005
  3/15/2005SenateSecond Reading
  3/15/2005SenatePlaced on Calendar Order of 3rd Reading March 16, 2005
  4/12/2005SenatePlaced on Calendar Order of 3rd Reading ** April 13, 2005
  4/15/2005SenateRule 2-10 Third Reading Deadline Extended to December 31, 2005
  7/1/2005SenatePursuant to Senate Rule 3-9(b) / Referred to Rules
  10/19/2005SenateApproved for Consideration Rules
  10/19/2005SenatePlaced on Calendar Order of 3rd Reading October 25, 2005
  10/25/2005SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Terry Link
  10/25/2005SenateSenate Floor Amendment No. 1 Referred to Rules
  10/26/2005SenateChief Sponsor Changed to Sen. Terry Link
  10/26/2005SenateAdded as Chief Co-Sponsor Sen. Don Harmon
  10/26/2005SenateAdded as Chief Co-Sponsor Sen. Louis S. Viverito
  10/26/2005SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins
  10/26/2005SenateAdded as Co-Sponsor Sen. Iris Y. Martinez
  10/27/2005SenateAdded as Co-Sponsor Sen. Antonio Munoz
  11/4/2005SenateAdded as Co-Sponsor Sen. Mattie Hunter
  11/4/2005SenateAdded as Co-Sponsor Sen. Miguel del Valle
  11/4/2005SenateAdded as Co-Sponsor Sen. James A. DeLeo
  11/4/2005SenateAdded as Co-Sponsor Sen. Rickey R. Hendon
  11/4/2005SenateAdded as Co-Sponsor Sen. M. Maggie Crotty
  11/4/2005SenateAdded as Co-Sponsor Sen. Martin A. Sandoval
  11/4/2005SenateRule 2-10 Third Reading Deadline Extended to January 9, 2007
  11/7/2005SenateAdded as Co-Sponsor Sen. Susan Garrett
  11/15/2005SenateAdded as Co-Sponsor Sen. Donne E. Trotter
  11/16/2005SenateAdded as Co-Sponsor Sen. Kimberly A. Lightford
  11/29/2005SenateAdded as Co-Sponsor Sen. John J. Cullerton
  11/29/2005SenateAdded as Co-Sponsor Sen. Ira I. Silverstein
  12/5/2005SenatePursuant to Senate Rule 3-9(b) / Referred to Rules
  12/16/2005SenateAdded as Co-Sponsor Sen. Jeffrey M. Schoenberg
  1/17/2006SenateFiscal Note Filed on Senate Amendment No. 1, from the Illinois Department of Revenue.
  1/20/2006SenateAdded as Co-Sponsor Sen. Cheryl Axley
  1/9/2007SenateSession Sine Die

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