Date	Chamber	Action
1/13/2015	Senate	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 200/12-37 new

35 ILCS 200/16-185

35 ILCS 200/23-20

Synopsis As Introduced
Amends the Property Tax Code. Provides that whenever, as the result of a final order of the Property Tax Appeal Board or any court, a property assessment is reduced for a tax year for which the taxes have already been paid and the subject property is still owned by the same person, entity, or a successor entity, the chief county assessment officer shall award to the taxpayer obtaining the order a compensatory assessment reduction for the next assessment year available for assessment adjustment. Provides that the amount of the compensatory assessment reduction shall be equal to the assessment reduction for the prior year or years as ordered by Property Tax Appeal Board or court and provides that the amount may be carried forward. Provides that the award of compensatory assessment reductions shall take place prior to and shall be considered in the determination of tax rates by the county clerk. Provides that the award of compensatory assessment reductions shall not affect the determination of the fair market value of the subject property or its assessed valuation once the compensatory assessment reductions have been exhausted.

Actions 

Date	Chamber	Action
2/4/2014	Senate	Filed with Secretary by Sen. Tim Bivins
2/4/2014	Senate	First Reading
2/4/2014	Senate	Referred to Assignments
2/19/2014	Senate	Assigned to Revenue
2/27/2014	Senate	Postponed - Revenue
3/27/2014	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. Michael Connelly
3/27/2014	Senate	Senate Committee Amendment No. 1 Referred to Assignments
3/27/2014	Senate	Chief Sponsor Changed to Sen. Michael Connelly
3/28/2014	Senate	Rule 3-9(a) / Re-referred to Assignments
1/13/2015	Senate	Session Sine Die

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