Bill Status of SB 3974   103rd General Assembly

Short Description:  PROP TX-ENERGY STORAGE

Senate Sponsors
Sen. David Koehler

Last Action  View All Actions

DateChamber Action
  11/6/2024SenateReferred to Assignments

Statutes Amended In Order of Appearance
35 ILCS 200/Art. 10 Div. 22 heading new
35 ILCS 200/10-920 new
35 ILCS 200/10-925 new
35 ILCS 200/10-935 new
35 ILCS 200/10-940 new
35 ILCS 200/10-945 new
35 ILCS 200/10-950 new
35 ILCS 200/10-955 new
35 ILCS 200/10-960 new

Synopsis As Introduced
Amends the Property Tax Code. Provides that the fair cash value of commercial energy storage system improvements in counties with fewer than 3,000,000 inhabitants shall be determined by subtracting the allowance for physical depreciation from the commercial energy storage system trended real property cost basis. Provides that those commercial energy storage systems are not subject to equalization factors applied by the Department of Revenue or by any board of review, assessor, or chief county assessment officer. Provides that the owner of the commercial energy storage system shall commission a metes and bounds survey description of the land upon which the commercial energy storage system is located. Contains other provisions concerning the assessment of commercial energy storage systems. Effective immediately.

Actions 
DateChamber Action
  11/6/2024SenateFiled with Secretary by Sen. David Koehler
  11/6/2024SenateFirst Reading
  11/6/2024SenateReferred to Assignments

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