94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
SB2610


 
Introduced 1/20/2006, by Sen. John M. Sullivan
 
SYNOPSIS AS INTRODUCED:
 		














35 ILCS 200/10-147









    Amends the Property Tax Code. Makes a technical change in a Section concerning the assessment of former farms and open spaces.
















LRB094 18722 BDD 54091 b

















 


 


A BILL FOR









 











SB2610

LRB094 18722 BDD 54091 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 10-147 as follows:
 



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    (35 ILCS 200/10-147)



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    Sec. 10-147. Former farm; open space. Beginning with the

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the 1992 assessment
year, the equalized assessed value of any 
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tract of real property that has not
been used as a farm for 20 
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or more consecutive years shall not be determined
under 
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Sections 10-110 through 10-140. If no other use is established, 
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the tract
shall be considered to be used for open space 
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purposes and its valuation shall
be determined under Sections 
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10-155 through 10-165.

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(Source: P.A. 87-1270; 88-455.)