97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB0026
 
Introduced 1/12/2011, by Rep. Jim Sacia
 
SYNOPSIS AS INTRODUCED:
 

 
35 ILCS 200/10-600

     Amends the Property Tax Code.  In a Section concerning valuation of wind energy property, provides that (i) for taxable years 2007 through 2009, "wind energy device" means any device with a
nameplate capacity of at least 0.5 megawatts that is used in the process of converting kinetic energy from the wind to generate electric power for commercial sale, and (ii) for taxable year 2010 and thereafter, "wind energy device" means any device used to convert kinetic energy from the wind into electric power.  Effective immediately.
  


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FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY
 
 
A BILL FOR
 

  
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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 changing 
5Section 10-600 as follows:
 
6    (35 ILCS 200/10-600)
7    Sec. 10-600. Definitions. For the purposes of this Division 
818:
9    "Wind energy device" means (i) for taxable years 2007 
10through 2009, any device, with a
nameplate capacity of at least 
110.5 megawatts, that is used in the process of converting 
12kinetic energy from the wind to generate electric power for 
13commercial sale and (ii) for taxable year 2010 and thereafter, 
14any device used to convert kinetic energy from the wind into 
15electric power.
16    "2007 real property cost basis" excludes personal property 
17but represents both the land and real property improvements of 
18a wind energy device and means $360,000 per megawatt of 
19nameplate capacity.
20    "Trending factor" means a number equal to the consumer 
21price index (U.S. city average all items) published by the 
22Bureau of Labor Statistics for the December immediately 
23preceding the assessment date, divided by the consumer price 
 
 
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1index (U.S. city average all items) published by the Bureau of 
2Labor Statistics for December 2006.
3    "Trended real property cost basis" means the 2007 real 
4property cost basis multiplied by the trending factor.
5    "Allowance for physical depreciation" means (i) the actual 
6age in years of the wind energy device on the assessment date 
7divided by 25 years multiplied by (ii)  the trended real 
8property cost basis. The physical depreciation, however, may 
9not reduce the value of the wind energy device to less than 30% 
10of the trended real property cost basis.

11(Source: P.A. 95-644, eff. 10-12-07.)
 
 
12    Section 99. Effective date. This Act takes effect upon 
13becoming law.