Date	Chamber	Action
1/10/2023	House	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 200/10-700

Synopsis As Introduced
Amends the Property Tax Code. Defines "flooding disaster." Provides that in order to qualify for valuation as a qualified commercial and industrial property, the structure must be rebuilt within 2 years after the date of the tornado disaster or flooding disaster, (currently, 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 or flooding disaster (currently, tornado disaster). Modifies "base year" to include tornado disaster or flooding disaster (currently, tornado disaster). Makes similar changes regarding "modified equalized assessed value" and "qualified parcel of property." Effective immediately.

Actions 

Date	Chamber	Action
1/26/2022	House	Filed with the Clerk by Rep. Thomas M. Bennett
1/27/2022	House	First Reading
1/27/2022	House	Referred to Rules Committee
2/9/2022	House	Assigned to Revenue & Finance Committee
2/15/2022	House	To Property Tax Subcommittee
2/18/2022	House	Rule 19(a) / Re-referred to Rules Committee
1/10/2023	House	Session Sine Die

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