Full Text of HB4907 96th General Assembly
HB4907 96TH GENERAL ASSEMBLY
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96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010 HB4907
Introduced 1/15/2010, by Rep. Mike Bost SYNOPSIS AS INTRODUCED: |
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Amend the Property Tax Code. Provides that, beginning in taxable year 2010, land that is used primarily as a vineyard is eligible for open space land valuation. Effective immediately.
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FISCAL NOTE ACT MAY APPLY | |
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY |
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A BILL FOR
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HB4907 |
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LRB096 17952 HLH 33321 b |
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| AN ACT concerning revenue.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Property Tax Code is amended by changing | 5 |
| Section 10-155 as follows:
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| (35 ILCS 200/10-155)
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| Sec. 10-155. Open space land; valuation. In all counties, | 8 |
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addition to valuation as otherwise permitted by law, land | 9 |
| which is used for
open space purposes and has been so used for | 10 |
| the 3 years immediately preceding
the year in which the | 11 |
| assessment is made, upon application under Section
10-160, | 12 |
| shall be valued on the basis of its fair cash value, estimated | 13 |
| at the
price it would bring at a fair, voluntary sale for use | 14 |
| by the buyer for open
space purposes.
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| Land is considered used for open space purposes if it is | 16 |
| more than 10 acres
in area and:
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| (a) is actually and exclusively used for maintaining or | 18 |
| enhancing natural
or scenic resources,
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| (b) protects air or streams or water supplies,
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| (c) promotes conservation of soil, wetlands, beaches, | 21 |
| or marshes,
including ground cover or planted perennial | 22 |
| grasses, trees and shrubs and other
natural perennial | 23 |
| growth, and including any body of water, whether man-made |
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HB4907 |
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LRB096 17952 HLH 33321 b |
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| or
natural,
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| (d) conserves landscaped areas, such as public or | 3 |
| private golf courses,
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| (e) enhances the value to the public of abutting or | 5 |
| neighboring parks,
forests, wildlife preserves, nature | 6 |
| reservations, sanctuaries, or other open
spaces, or
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| (f) preserves historic sites.
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| Beginning in taxable year 2010, land is also considered | 9 |
| used for open space purposes if it is used primarily as a | 10 |
| vineyard. | 11 |
| Land is not considered used for open space purposes if it | 12 |
| is used primarily
for residential purposes. | 13 |
| If the land is improved with a water-retention dam that is | 14 |
| operated primarily for commercial purposes, the | 15 |
| water-retention dam is not considered to be used for open space | 16 |
| purposes despite the fact that any resulting man-made lake may | 17 |
| be considered to be used for open space purposes under this | 18 |
| Section.
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| (Source: P.A. 95-70, eff. 1-1-08.)
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| Section 99. Effective date. This Act takes effect upon | 21 |
| becoming law.
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