103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB5647

 

Introduced 2/9/2024, by Rep. Anthony DeLuca

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/9-153 new

    Amends the Property Tax Code. Provides that, from assessment year 2025 through assessment year 2030, in Bremen, Bloom, Rich, and Thornton townships in Cook County, commercial and industrial property shall be assessed at the same level of assessment as residential property. Provides that, beginning with assessment year 2031, Cook County may establish a sliding scale with respect to the statutory level of assessment for commercial and industrial property in those townships that allows those properties to be subject to the same level of assessment as other commercial and industrial property in the county. Preempts the exercise of home rule powers. Effective immediately.


LRB103 38371 HLH 68506 b

 

 

A BILL FOR

 

HB5647LRB103 38371 HLH 68506 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Property Tax Code is amended by adding
5Section 9-153 as follows:
 
6    (35 ILCS 200/9-153 new)
7    Sec. 9-153. Balanced level of assessment. Notwithstanding
8any other provision of law, from assessment year 2025 through
9assessment year 2030, in Bremen, Bloom, Rich, and Thornton
10townships in Cook County, commercial and industrial property
11shall be assessed at the same level of assessment as
12residential property in those townships. Beginning with
13assessment year 2031, Cook County may establish a sliding
14scale with respect to the statutory level of assessment for
15commercial and industrial property in those townships that
16allows those properties to be subject to the same level of
17assessment as other commercial and industrial property in the
18county.
19    This Section is a denial and limitation of home rule
20powers and functions under subsection (g) of Section 6 of
21Article VII of the Illinois Constitution.
 
22    Section 99. Effective date. This Act takes effect upon

 

 

HB5647- 2 -LRB103 38371 HLH 68506 b

1becoming law.