(35 ILCS 200/10-700) Sec. 10-700. Qualified commercial and industrial property; tornado disaster. Notwithstanding any other provision of law, each qualified parcel of commercial or industrial property owned and used by a small business shall be valued at the lesser of (i) its modified equalized assessed value or (ii) 33 1/3% of its fair cash value or, in the case of property located in a county that classifies property for purposes of taxation in accordance with Section 4 of Article IX of the Constitution, the percentage of fair cash value as required by county ordinance. The method of valuation under this Section shall continue until there is a change in use or ownership of the property or until the fifteenth taxable year after the tornado disaster occurs, whichever occurs first. In order to qualify for valuation under this Section, the structure must be rebuilt within 2 years after the date of the tornado disaster, and the square footage of the rebuilt structure may not be more than 110% of the square footage of the original structure as it existed immediately prior to the tornado disaster. "Base year" means the taxable year prior to the taxable year in which the tornado disaster occurred. "Modified equalized assessed value" means: (1) in the first taxable year after the tornado |
| disaster occurs, the equalized assessed value of the property for the base year; and
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(2) in the second taxable year after the tornado
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| disaster occurs and thereafter, the modified equalized assessed value of the property for the previous taxable year, increased by 4%.
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"Tornado disaster" means an occurrence of widespread or severe damage or loss of property resulting from a tornado or combination of tornadoes that has been proclaimed as a natural disaster by the Governor or the President of the United States.
"Qualified parcel of property" means property that (i) is owned and used exclusively for commercial or industrial purposes by a small business and (ii) has been rebuilt following a tornado disaster occurring in taxable year 2013 or any taxable year thereafter.
"Small business" means a business that employs fewer than 50 full-time employees.
(Source: P.A. 98-702, eff. 7-7-14.)
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(35 ILCS 200/10-705) Sec. 10-705. Keystone property. (a) For the purposes of this Section: "Base year" means the last tax year prior to the date |
| of the application during which the property was occupied and assessed and taxes were collected.
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"Tax year" means the calendar year for which assessed
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| value is determined as of January 1 of that year.
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"Keystone property" means property that has had a
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| distinguished past and is a prominent property in the Village of Park Forest, a home rule municipality in both Cook and Will Counties, but is not of historical significance or landmark status and meets the following criteria:
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(1) the property contains an existing industrial
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| structure consisting of more than 100,000 square feet;
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(2) the property is located on a lot, parcel, or
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| tract of land that is more than 5 acres in area;
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(3) the industrial structure was originally built
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| more than 30 years prior to the date of the application;
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(4) the property has been vacant for a period of
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| more than 5 consecutive years immediately prior to the date of the application; and
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(5) the property is not located in a tax
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| increment financing district as of the date of the application.
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(b) Within one year from the effective date of this amendatory Act of the 100th General Assembly, owners of real property may apply with the municipality in which the property is located to have the property designated as keystone property. If the property meets the criteria for keystone property set forth in subsection (a), then the corporate authorities of the municipality have one year from the effective date of this amendatory Act of the 100th General Assembly within which they may certify the property as keystone property for the purposes of promoting rehabilitation of vacant property and fostering job creation in the fields of manufacturing and research and development. The certification shall be transmitted to the chief county assessment officer as soon as possible after the property is certified.
(c) Beginning with the first tax year after the property is certified as keystone property and continuing through the twelfth tax year after the property is certified as keystone property, for the purpose of taxation under this Code, the property shall be valued at 33 1/3% of the fair cash value of the land, without regard to buildings, structures, improvements, and other permanent fixtures located on the property. For the first 3 tax years after the property is certified as keystone property, the aggregate tax liability for the property shall be no greater than $75,000. That aggregate tax liability, once collected, shall be distributed to the taxing districts in which the property is located according to each taxing district's proportionate share of that aggregate liability. Beginning with the fourth tax year after the property is certified as keystone property and continuing through the twelfth tax year after the property is certified as keystone property, the property's tax liability for each taxing district in which the property is located shall be increased over the tax liability for the preceding year by the percentage increase, if any, in the total equalized assessed value of all property in the taxing district.
No later than March 1 of each year before taxes are extended for the prior tax year, the Village of Park Forest shall certify to the county clerk of the county in which the property is located a percentage reduction to be applied to property taxes to limit the aggregate tax liability on keystone property in accordance with this Section.
(Source: P.A. 100-510, eff. 9-15-17.)
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(35 ILCS 200/10-800) Sec. 10-800. Southland reactivation property. (a) For the purposes of this Section: "Base year" means the last tax year prior to the date of the application for southland reactivation designation during which the property was occupied and assessed and had an equalized assessed value. "Cook County Land Bank Authority" means the Cook County Land Bank Authority created by ordinance of the Cook County Board. "Municipality" means a city, village, or incorporated town located in the State. "Participating entity" means any of the following, either collectively or individually: the municipality in which the property is located; the South Suburban Land Bank and Development Authority; or the Cook County Land Bank Development Authority. "Southland reactivation property" means property that: (1) has been designated by the municipality by |
| resolution as a priority tax reactivation parcel, site, or property due to its clear pattern of stagnation and depressed condition or the decline in its assessed valuation;
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(2) is held by a participating entity; and
(3) meets all of the following criteria:
(A) the property is zoned for commercial or
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(B) the property has had its past property taxes
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| cleared and is now classified as exempt, or the property has not had a lawful occupant for at least 12 months immediately preceding the application for certification as southland reactivation property, as attested to by a supporting affidavit;
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(C) the sale or transfer of the property,
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| following southland reactivation designation, to a developer would result in investment which would result a higher assessed value;
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(D) the property will be sold by a participating
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| entity to a buyer of property that has been approved by the corporate authorities of the municipality or to a developer that has been approved by the corporate authorities of the municipality whose redevelopment of the parcel, site, or property would reverse long-standing divestment in the area, enhance inclusive economic growth, create jobs or career pathways, support equitable recovery of the community, and stabilize the tax base through investments that align with local government plans and priorities;
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(E) an application for southland reactivation
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| designation is filed with the participating entity and a resolution designating the property as southland reactivation property is passed by the municipality prior to the sale, rehabilitation, or reoccupation;
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(F) if not for the southland reactivation
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| designation, development or redevelopment of the property would not occur; and
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(G) the property is located in any of the
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| following Townships in Cook County: Bloom, Bremen, Calumet, Rich, Thornton, or Worth.
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"South Suburban Land Bank and Development Authority" means the South Suburban Land Bank and Development Authority created in 2012 by intergovernmental agreement.
"Tax year" means the calendar year for which assessed value is determined as of January 1 of that year.
(b) Within 5 years after May 27, 2022 (the effective date of Public Act 102-1010), purchasers of real property from any of the participating entities may apply to that entity to have the property certified as southland reactivation property if the property meets the criteria for southland reactivation property set forth in subsection (a). The participating entity has 5 years from May 27, 2022 (the effective date of Public Act 102-1010) within which it may certify the property as southland reactivation property for the purposes of promoting rehabilitation of abandoned, vacant, or underutilized property to attract and enhance economic activities and investment that stabilize, restore, and grow the tax base in severely blighted areas within Chicago's south suburbs. This certification is nonrenewable and shall be transmitted by the municipality, or by the participating entity on behalf of the municipality, to the chief county assessment officer as soon as possible after the property is certified. Southland reactivation designation is limited to the original applicant unless expressly approved by the corporate authorities of the municipality and the property has no change in use.
Support by the corporate authorities of the municipality for southland reactivation designation shall be considered in a lawful public meeting, and impacted taxing districts shall receive notification of the agenda item to consider southland reactivation of the site not less than 15 days prior to that meeting.
(c) Beginning with the first tax year after the property is certified as southland reactivation property and continuing through the twelfth tax year after the property is certified as southland reactivation property, for the purpose of taxation under this Code, the property shall be valued at 50% of the base year equalized assessed value as established by the chief county assessment officer, excluding all years with property tax exemptions applied as a result of the participating entity's ownership. For the first year after the property is certified as southland reactivation property, the aggregate property tax liability for the property shall be no greater than $100,000 per year. That aggregate property tax liability, once collected, shall be distributed to the taxing districts in which the property is located according to each taxing district's proportionate share of that aggregate liability. Beginning with the second tax year after the property is certified as southland reactivation property and continuing through the twelfth tax year after the property is certified as southland reactivation property, the property tax liability for the property for each taxing district in which the property is located shall be increased over the property tax liability for the property for the preceding year by 10%. In no event shall the purchaser's annual tax liability decrease.
(d) No later than March 1 of each year, the municipality or the participating entity on behalf of the municipality shall certify to the county clerk of the county in which the property is located a percentage southland reactivation reduction to be applied to property taxes for that calendar year, as provided in this Section.
(e) The participating entity shall collect the following information annually for the pilot program period: the number of program applicants; the street address of each certified property; the proposed use of certified properties; the amount of investment; the number of jobs created as a result of the certification; and copies of the certification of each southland reactivation site to allow for the evaluation and assessment of the effectiveness of southland reactivation designation. The participating entity responsible for seeking the southland reactivation designation shall present this information to the governing body of each taxing district affected by a southland reactivation designation on an annual basis, and the participating entity shall report the above information to any requesting members of the General Assembly at the conclusion of the 5-year designation period.
(f) Any southland reactivation certification granted under this Section shall be void if the property is conveyed to an entity or person that is liable for any unpaid, delinquent property taxes associated with the property.
(Source: P.A. 102-1010, eff. 5-27-22; 103-154, eff. 6-30-23.)
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(35 ILCS 200/11-10)
Sec. 11-10.
Definition of pollution control facilities.
"Pollution control
facilities" means any system, method, construction, device or appliance
appurtenant thereto, or any portion of any building or equipment, that is
designed, constructed, installed or operated for the primary purpose of:
(a) eliminating, preventing, or reducing air or water pollution, as the
terms "air pollution" and "water pollution" are defined in the Environmental
Protection Act; or
(b) treating, pretreating, modifying or disposing of any potential solid,
liquid or gaseous pollutant which if released without treatment, pretreatment,
modification or disposal might be harmful, detrimental or offensive to human,
plant or animal life, or to property. "Pollution control facilities" shall not
include, however,
(1) any facility with the primary purpose of (i) |
| eliminating, containing, preventing or reducing radioactive contaminants or energy, or (ii) treating waste water produced by the nuclear generation of electric power,
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(2) any large diameter pipes or piping systems used
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| to remove and disperse heat from water involved in the nuclear generation of electric power,
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(3) any facility operated by any person other than a
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| unit of government, whether within or outside of the territorial boundaries of a unit of local government, for sewage disposal or treatment, or
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(4) land underlying a cooling pond.
(Source: P.A. 83-883; 88-455.)
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(35 ILCS 200/11-30)
Sec. 11-30.
Powers and duties of the certifying board.
Before denying any
certificate, the Pollution Control Board shall give reasonable notice in
writing to the applicant and provide the applicant a reasonable opportunity for
a fair hearing. On like notice to the holder and opportunity for hearing, the
Board may on its own initiative revoke or modify a pollution control
certificate or a low sulfur dioxide emission coal fueled device certificate
whenever any of the following appears:
(a) the certificate was obtained by fraud or |
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(b) the holder of the certificate has failed
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| substantially to proceed with the construction, reconstruction, installation, or acquisition of pollution control facilities or a low sulfur dioxide emission coal fueled device; or
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(c) the pollution control facility to which the
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| certificate relates has ceased to be used for the primary purpose of pollution control and is being used for a different purpose.
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Prompt written notice of the Board's action upon any application shall
be given to the applicant together with a written copy of the Board's
findings and certificate, if any.
(Source: P.A. 82-134; 88-455 .)
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(35 ILCS 200/11-70)
Sec. 11-70.
Assessment of railroad companies; definitions.
These words and
phrases, for the assessment of the property of railroad companies, and unless
otherwise required by the context shall be defined as follows:
(a) "Railroad company," "railroad," or "company" means any person, company,
corporation or association owning, operating or constructing a railroad, a
suburban or interurban railroad, a switching or terminal railroad, a railroad
station, or a railroad bridge in this State.
(b) "Operating property" means all tracks and right of way, all structures
and improvements on that right of way, all rights and franchises, all rolling
stock and car equipment, and all other property, real or personal, tangible or
intangible connected with or used in the operation of the railroad including
real estate contiguous to railroad right of way or station grounds held for
reasonable expansion or future development.
(c) "Non-operating personalty" means all personal property, tangible and
intangible, held by any railroad company and not included in the definition of
"operating property".
(d) "Non-carrier real estate" means all land, and improvements on that land,
not situated on the right of way of the railroad and not used as operating
property within the meaning of the definition in paragraph (b). Improvements
owned by others and situated on the right of way not used in the operations of
the railroad shall be deemed to be "non-carrier real estate." The Department
shall adopt proper rules and regulations to determine whether any property is
"non-carrier real estate."
(e) "Trackage rights" or "trackage right agreement" means the right by
which one railroad company operates trains in scheduled service over tracks
owned and used by another railroad company and the valuation of trackage rights
shall include the value of all rolling stock, and all tangible or intangible
personal property used or connected therewith.
(Source: P.A. 81-1stSS-1; 88-455 .)
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(35 ILCS 200/11-80.1) Sec. 11-80.1. High-speed passenger rail project. Due to the importance of developing high-speed or faster rail service, the General Assembly finds that it should encourage freight railroad owners to participate in State and federal government programs, including cooperative agreements designed to increase the speed of passenger rail service, that participation in those programs should not result in increased property taxes, and that such an increase in property taxes could negatively impact the participation in those programs. Therefore, the Department shall take into consideration any potential increase in a property's overall valuation that is directly attributable to the investment, improvement, replacement, or expansion of railroad operating property on or after January 1, 2010, through State or federal government programs, including cooperative agreements, necessary for higher speed passenger rail transportation. Any such increase in the property's overall valuation that is directly attributable to the investment, improvement, replacement, or expansion of railroad operating property on or after January 1, 2010, through State or federal government programs necessary for higher speed passenger rail transportation, including cooperative agreements, shall be excluded from the valuation of its real property improvements under Section 11-80. This Section applies on and after the effective date of this amendatory Act of the 97th General Assembly and through December 31, 2029.
(Source: P.A. 101-186, eff. 8-2-19.) |
(35 ILCS 200/11-85)
Sec. 11-85. Property schedules. Every railroad company shall, on or before
June 1 of each year, when required, make out and file with the Department a
statement or schedule showing the property held for right of way, whether
owned, leased, or operated under trackage right agreement, and the length of
the first, second, third and other main and all side tracks and turnouts, and
the number of acres of right of way in each county of this State and in each
taxing district of this State, through or into which the road may run. It shall
describe all improvements and stations located on the right of way, giving the
quantity, quality, character and original cost of each. It shall also report
all non-operating personalty owned or controlled by the company on January 1,
giving the quantity, quality, character and location of the same. The report shall also include any potential increase in the property's overall valuation that is directly attributable to the investment, improvement, replacement, or expansion of railroad operating property on or after January 1, 2010, through State or federal governmental programs, including cooperative agreements, necessary for higher speed passenger rail transportation through December 31, 2029. New companies
shall make the statement on or before the June 1 after the location of their
road.
When the statement has once been made, it is not necessary to report the
description as required above unless directed to do so by the Department, but
the company shall, on or before June 1, annually, report all additions or
changes in its property in this State as have occurred.
The return required by this Section should be made by the using company, but
all property which is operated under one control shall be returned as provided
in this Section.
(Source: P.A. 101-186, eff. 8-2-19.)
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(35 ILCS 200/11-90)
Sec. 11-90. Information schedules. Each year every railroad company in this
State shall return to the Department, in addition to any other information
required by this Code, sworn statements or schedules as follows:
(a) The amount of capital stock authorized and the |
| total number of shares of capital stock.
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(b) The amount of capital stock issued and
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(c) The market value, or if no market value then the
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| estimated value, of the shares of stock outstanding.
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(d) The total amount of all bonds outstanding and all
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(e) The market value, or if no market value then the
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| estimated value, of all bonds outstanding and all other indebtedness.
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(f) A statement in detail of the entire gross
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| receipts and net earnings of the company during the 5 calendar years preceding the assessment date within this State, and of the entire system from all sources.
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(g) The length of the first, second, third and other
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| main tracks and all side tracks and turnouts showing the proportions within this State and elsewhere.
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(h) The reproduction cost of the property within
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| Illinois and the total reproduction cost of all property of the company. The reproduction cost, so far as applicable, shall be as last determined by the United States Interstate Commerce Commission, or other competent authority, plus additions and betterments, less retirements and depreciation to the December 31 preceding the assessment date.
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(i) An enumeration and classification of all rolling
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| stock and car equipment owned or leased by the company. The classification shall show type of equipment and circumstances of ownership and use. The enumeration shall include rolling stock used over the track of other companies under any trackage right agreement. All other property used in connection with a trackage right agreement shall be listed.
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(j) Any other information the Department may require
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| to determine the fair cash value of the property of any railroad company, or necessary to carry out the provisions of this Code, including information pertaining to any potential increases in the property's overall valuation that is directly attributable to the investment, improvement, replacement, or expansion of railroad operating property on or after January 1, 2010, through State or federal governmental programs, including cooperative agreements, necessary for higher speed passenger rail transportation through December 31, 2029.
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Such statements or schedules shall conform to the instructions and forms
prescribed by the Department.
In cases where a railroad company uses property owned by another, the return
shall be made by the using company and all property operated under one control
shall be returned as provided above.
(Source: P.A. 101-186, eff. 8-2-19.)
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