SB1775 102ND GENERAL ASSEMBLY

LRB102 11985 HLH 17321 b

102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
SB1775

Introduced 2/26/2021, by Sen. Laura M. Murphy

SYNOPSIS AS INTRODUCED:

35 ILCS 200/18-184.15 new

Amends the Property Tax Code. Provides that the county clerk shall abate 10% of the taxes imposed on qualified forest property that is part of a proposed new housing development. Provides that the owner of the property shall obtain approval from the Department of Natural Resources and shall submit a conservation plan and a new housing development plan to the Department of Natural Resources. Provides that "qualified forest property" means land of at least one acre that: (i) is at least 10% stocked by forest trees of any size; (ii) includes forest strips that are at least 120 feet wide; (iii) is managed in accordance with a conservation plan approved by the Department of Natural Resources; and (iv) is not developed for non-forest use as of January 1 of the first taxable year of the abatement. Effective immediately.

FISCAL NOTE ACT MAY APPLY

HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning revenue.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Property Tax Code is amended by adding Section 18-184.15 as follows:

(35 ILCS 200/18-184.15 new)

Sec. 18-184.15. Qualified forest property abatement for new housing developments.

(a) Notwithstanding any other provision of law, the county clerk shall abate 10% of the taxes imposed on qualified forest property that is part of a proposed new housing development. To qualify for the abatement, the owner of the property shall obtain approval from the Department of Natural Resources. The application for approval shall include a conservation plan prepared by an arborist for the property as well as a new housing development plan, both submitted by the owner of the property. Upon approval by the Department of Natural Resources, the abatement shall continue as long as the property meets the criteria for qualified forest property set forth in this Section.

(b) As used in this Section:

"New housing development plan" means a proposed development plan with structures that will be used as a home or residence by one or more persons, including but not limited to, manufactured homes or multifamily housing.

"Qualified forest property" means land of at least one acre that: (i) is at least 10% stocked by forest trees of any size; (ii) includes forest strips that are at least 120 feet wide; (iii) is managed in accordance with a conservation plan approved by the Department of Natural Resources under subsection (a); and (iv) is not developed for non-forest use as of January 1 of the first taxable year of the abatement.

Section 99. Effective date. This Act takes effect upon becoming law.