State of Illinois
90th General Assembly
Legislation

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[ Introduced ][ Enrolled ][ House Amendment 001 ]

90_HB0275eng

      35 ILCS 200/15-65
          Amends the Property Tax Code.  Includes in  the  list  of
      property  granted  an  exemption based on charitable purposes
      academic  or  research  institutes  that  qualify   for   the
      charitable purposes exemption under the Internal Revenue Code
      of 1986 because they operate for the benefit of the public by
      actually  and  exclusively performing scientific research and
      making the result of the research available to the public  on
      a non-discriminatory basis.
                                                     LRB9000458KRkb
HB0275 Engrossed                               LRB9000458KRkb
 1        AN ACT to amend the Property Tax Code by changing Section
 2    18-165.
 3        Be  it  enacted  by  the People of the State of Illinois,
 4    represented in the General Assembly:
 5        Section 5.  The Property Tax Code is amended by  changing
 6    Section 18-165 as follows:
 7        (35 ILCS 200/18-165)
 8        Sec. 18-165. Abatement of taxes.
 9        (a)  Any  taxing  district,  upon  a majority vote of its
10    governing authority, may,  after  the  determination  of  the
11    assessed  valuation  of its property, order the clerk of that
12    county to abate any portion of its  taxes  on  the  following
13    types of property:
14             (1)  Commercial and industrial.
15                  (A)  The   property   of   any   commercial  or
16             industrial firm, including but not  limited  to  the
17             property  of  any  firm that is used for collecting,
18             separating,  storing,   or   processing   recyclable
19             materials,   locating  within  the  taxing  district
20             during the immediately preceding year  from  another
21             state,  territory,  or country, or having been newly
22             created within this  State  during  the  immediately
23             preceding  year,  or expanding an existing facility.
24             The abatement shall not exceed a period of 10  years
25             and  the  aggregate  amount  of abated taxes for all
26             taxing   districts   combined   shall   not   exceed
27             $3,000,000; or
28                  (B)  The  property   of   any   commercial   or
29             industrial  development of at least 500 acres having
30             been  created  within  the  taxing  district.    The
31             abatement  shall not exceed a period of 20 years and
HB0275 Engrossed            -2-                LRB9000458KRkb
 1             the aggregate amount of abated taxes for all  taxing
 2             districts combined shall not exceed $12,000,000.
 3             (2)  Horse  racing.   Any  property  in  the  taxing
 4        district  which is used for the racing of horses and upon
 5        which  capital  improvements  consisting  of   expansion,
 6        improvement  or  replacement  of existing facilities have
 7        been made since July 1, 1987.   The  combined  abatements
 8        for such property from all taxing districts in any county
 9        shall not exceed $5,000,000 annually and shall not exceed
10        a period of 10 years.
11             (3)  Auto racing.  Any property designed exclusively
12        for  the racing of motor vehicles which became subject to
13        property taxation after September 24, 1984 and is located
14        within a county  with  225,000  or  more  but  less  than
15        300,000  inhabitants.  Such  abatement shall not exceed a
16        period of 10 years.
17             (4)  Academic or research institute.   The  property
18        of  any  academic  or  research  institute  in the taxing
19        district  that  (i)  is  an  exempt  organization   under
20        paragraph  (3)  of Section 501(c) of the Internal Revenue
21        Code, (ii) operates for the  benefit  of  the  public  by
22        actually  and  exclusively performing scientific research
23        and making the results of the research available  to  the
24        interested  public  on  a  non-discriminatory  basis, and
25        (iii) employs more  than  100  employees.   An  abatement
26        granted  under  this  paragraph  shall be for at least 15
27        years and the aggregate amount of abated  taxes  for  all
28        taxing districts combined shall not exceed $5,000,000.
29        (b)  Upon a majority vote of its governing authority, any
30    municipality  may,  after  the  determination of the assessed
31    valuation of its property, order the county  clerk  to  abate
32    any  portion  of  its  taxes  on any property that is located
33    within the corporate limits of the municipality in accordance
34    with Section 8-3-18 of the Illinois Municipal Code.
HB0275 Engrossed            -3-                LRB9000458KRkb
 1    (Source: P.A. 87-17; 87-477; 87-895; 88-389; 88-455;  88-657,
 2    eff. 1-1-95; 88-670, eff. 12-2-94; 89-561, eff. 1-1-97.)
 3        Section  99.  Effective date.  This Act takes effect upon
 4    becoming law.

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