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94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
SB2765
Introduced 1/20/2006, by Sen. Gary Forby SYNOPSIS AS INTRODUCED:
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Amends the Property Tax Code. Makes a technical change in a Section concerning the assessment of former farms and open spaces.
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A BILL FOR
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SB2765 |
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LRB094 18723 BDD 54092 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.)
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| Section 99. Effective date. This Act takes effect upon |
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| becoming law.
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