SB2431sam001 100TH GENERAL ASSEMBLY

Sen. Laura M. Murphy

Filed: 2/27/2018

10000SB2431sam001 LRB100 16736 HLH 36592 a

AMENDMENT TO SENATE BILL 2431

AMENDMENT NO. ______. Amend Senate Bill 2431 on page 4, immediately below line 2, by inserting the following:

"(e-5) When any change occurs in use or ownership of property that has been granted a homestead exemption under this Section, the transferee shall notify the chief county assessment officer of the change in writing within 90 days after the change in use or ownership occurs. The chief county assessment officer shall ensure that, if the property ceases to qualify for the exemption under this Section as a result of the change in use or ownership, then the exemption shall be removed beginning with the next taxable year after the change occurs.".