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| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB3017 Introduced 2/23/2011, by Rep. Rich Brauer SYNOPSIS AS INTRODUCED:
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| | Amends the Property Tax Code. Provides that, beginning with the 2011 taxable year, all barns that were first placed in service more than 75 years before the first day of the taxable year and are located in areas zoned for agriculture shall have an assessed value of zero. 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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| | HB3017 | | LRB097 02869 HLH 42893 b |
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| 1 | | AN ACT concerning revenue.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Property Tax Code is amended by adding |
| 5 | | Section 10-146 as follows:
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| 6 | | (35 ILCS 200/10-146 new)
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| 7 | | Sec. 10-146. Valuation of barns that are more than 75 years |
| 8 | | old and located in areas zoned for agriculture. |
| 9 | | (a) Beginning with the 2011 taxable year, all barns that |
| 10 | | were first placed in service more than 75 years before the |
| 11 | | first day of the taxable year and are located in areas zoned |
| 12 | | for agriculture shall have an assessed value of zero. |
| 13 | | (b) For purposes of this Section, "barn" means an |
| 14 | | agricultural structure, in whatever shape or design, that is |
| 15 | | used for the storage of farm products or feed or for the |
| 16 | | housing of farm animals or farm equipment.
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| 17 | | Section 99. Effective date. This Act takes effect upon |
| 18 | | becoming law.
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