97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB3114
 
Introduced 2/23/2011, by Rep. Daniel Biss
 
SYNOPSIS AS INTRODUCED:
 

 
35 ILCS 200/15-182 new

     Amends the Property Tax Code. Provides that homestead properties that have been improved with a renewable energy improvement are entitled to an exemption, limited to the value of the improvement, as assessed and equalized. Defines "renewable energy improvement". Provides that no exemption shall be granted for more than 10 taxable years after a renewable energy device was first installed and operational. Effective immediately.
  


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FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY
STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT
 
 
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 adding 
5Section 15-182 as follows:
 
6    (35 ILCS 200/15-182 new)
7    Sec. 15-182. Renewable energy improvements.
8    (a) Homestead properties that have been improved with a 
9renewable energy improvement are entitled to an exemption, 
10limited to the value of the renewable energy improvement, as 
11assessed and equalized. For the purposes of this Section, 
12"renewable energy improvement" means any fixture, product, 
13system, device, or interacting group of those items, for or 
14serving any homestead property that produces energy from 
15renewable energy resources as defined in Section 1-10 of the 
16Illinois Power Agency Act.
17    (b) If the renewable energy improvement was first installed 
18and operational after the beginning of the assessment year, the 
19exemption shall be applied to the property on a proportionate 
20basis for the period the property qualified during the 
21assessment year.
22    (c) No exemption authorized under this Section shall be 
23granted for more than 10 taxable years after a renewable energy 
 
 
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1device was first installed and operational on a property.
2    (d) Notwithstanding Sections 6 and 8 of the State Mandates 
3Act, no reimbursement by the State is required for the 
4implementation of any mandate created by this Section.
 
 
5    Section 99. Effective date. This Act takes effect upon 
6becoming law.