90th General Assembly
Summary of SB0051
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Senate Sponsors:
O'MALLEY-RADOGNO-GEO-KARIS.

House Sponsors:
ZICKUS-BROSNAHAN

Short description: 
PROP TX-EXEMPTIONS                                                         

Synopsis of Bill as introduced:
        Amends the Property Tax Code.  Provides that  a  county  may,  by      
   ordinance,  establish  a  date  for submission of applications for the      
   Senior  Citizens  Assessment  Freeze  Homestead  Exemption   that   is      
   different  than  July 1 (now, earlier than July 1).  Provides that any      
   taxing district, upon a majority vote of its governing authority,  may      
   order  the  clerk of the county to abate the taxes on property devoted      
   exclusively to affordable housing for older persons.   Defines  "older      
   households" as those households (i) that qualify as "housing for older      
   persons"  under  the  Illinois  Human Rights Act and (ii) whose annual      
   income does not exceed 80% of the area gross median income. Amends the      
   Property Tax Extension  Limitation  Law  in  the  Property  Tax  Code.      
   Provides that for municipalities that terminated the designation of an      
   area  as  a  redevelopment  project area prior to 1994, "recovered tax      
   increment value" means the amount of the EAV in the first  year  after      
   the  municipality  terminates  the  designation,  of each taxable lot,      
   block, tract, or parcel of real property in the redevelopment  project      
   area  over  and  above  the  initial  EAV  of  each  property  in  the      
   redevelopment  project  area.  Allows the county treasurer to mark the      
   tax books to reflect the issuance of a homestead certificate of  error      
   issued up to and including 3 years (now 2 years after the first day of      
   January  of  the  second  year  after the year for which the homestead      
   exemption should have been allowed).  Amends  the  Illinois  Municipal      
   Code.     Provides    that    a    municipality   (i)   that   imposes      
   telecommunications taxes and (ii) whose  territory  includes  part  of      
   another unit of local government or school district may, by ordinance,      
   exempt  the  unit  or district from the taxes. Amends the Metropolitan      
   Water Reclamation District Act.  Allows a sanitary district to deposit      
   additional surplus funds into the  Local  Improvement  Revolving  Loan      
   Fund.   Allows  the  sanitary  district  to  make loans from the Local      
   Improvement Revolving Loan Fund to municipalities and other  units  of      
   local  government  (now,  municipalities)  to  rehabilitate  the local      
   sewerage  systems.  Amends  the  State   Mandates   Act   to   require      
   implementation  without  reimbursement.  Makes  provisions  severable.      
   Makes other changes.                                                        
        GOVERNOR'S AMENDATORY VETO MESSAGE                                     
        Recommends deleting amendatory provisions defining "recovered tax      
   increment value" for municipalities that terminated the designation of      
   an area as a redevelopment project area prior to 1994. Provides in-         
   stead that, for the 1997 levy year, the recovered tax increment value       
   for a non-home rule taxing district, first subject to the Law in the        
   1995 levy year because a majority of its 1994 equalized assessed value      
   was in an affected county or counties, shall be increased by an amount      
   equal to the 1994 equalized assessed value of each taxable lot, block,      
   tract, or parcel of real property in the redevelopment project area         
   over and above the initial equalized assessed value of each property        
   in the redevelopment project area if the municipality terminated the        
   designation of an area in 1993 as a redevelopment project area.             
 
Last action on Bill: BILL DEAD-AMENDATORY VETO

   Last action date: 97-11-15

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



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