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94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB5818
Introduced 08/07/06, by Rep. William B. Black SYNOPSIS AS INTRODUCED:
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Amends the Property Tax Code. Provides that if land is improved with a water-retention dam that is operated primarily for commercial purposes, that dam is not considered to be used for open space purposes despite the fact that any resulting man-made lake may be considered to be used for open space purposes.
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| FISCAL NOTE ACT MAY APPLY | |
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY |
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A BILL FOR
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HB5818 |
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LRB094 21076 BDD 59404 b |
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| AN ACT concerning revenue.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Property Tax Code is amended by changing |
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| Section 10-155 as follows:
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| (35 ILCS 200/10-155)
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| Sec. 10-155. Open space land; valuation. In all counties, |
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| in
addition to valuation as otherwise permitted by law, land |
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| which is used for
open space purposes and has been so used for |
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| the 3 years immediately preceding
the year in which the |
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| assessment is made, upon application under Section
10-160, |
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| shall be valued on the basis of its fair cash value, estimated |
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| at the
price it would bring at a fair, voluntary sale for use |
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| by the buyer for open
space purposes.
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| Land is considered used for open space purposes if it is |
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| more than 10 acres
in area and:
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| (a) is actually and exclusively used for maintaining or |
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| enhancing natural
or scenic resources,
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| (b) protects air or streams or water supplies,
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| (c) promotes conservation of soil, wetlands, beaches, |
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| or marshes,
including ground cover or planted perennial |
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| grasses, trees and shrubs and other
natural perennial |
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| growth, and including any body of water, whether man-made |
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| or
natural,
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| (d) conserves landscaped areas, such as public or |
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| private golf courses,
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| (e) enhances the value to the public of abutting or |
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| neighboring parks,
forests, wildlife preserves, nature |
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| reservations, sanctuaries, or other open
spaces, or
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| (f) preserves historic sites.
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| Land is not considered used for open space purposes if it |
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| is used primarily
for residential purposes. |