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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 18-184.15 as follows: | ||||||
| 6 | (35 ILCS 200/18-184.15 new) | ||||||
| 7 | Sec. 18-184.15. Tool and manufacturing abatement. | ||||||
| 8 | Beginning in taxable year 2014, any county, municipality, | ||||||
| 9 | village, or township, upon approval of an ordinance or | ||||||
| 10 | resolution, may abate all or a portion of the taxes levied
by | ||||||
| 11 | that county, municipality, village, or township on the property | ||||||
| 12 | of a qualified tool and manufacturing business located within | ||||||
| 13 | that county, municipality, village, or township. Following the | ||||||
| 14 | approval of such an ordinance or resolution by a county, | ||||||
| 15 | municipality, village, or township, any taxing district | ||||||
| 16 | located in whole or in part within that county, municipality, | ||||||
| 17 | village or township may also abate all or a portion of its | ||||||
| 18 | taxes levied by the taxing district on the property of the | ||||||
| 19 | qualified tool and manufacturing business. Such taxing | ||||||
| 20 | district, upon approval of an ordinance or resolution, abating | ||||||
| 21 | all or a portion of the taxes levied by the taxing district on | ||||||
| 22 | the property of the qualified tool and manufacturing business | ||||||
| 23 | located within the taxing district, shall order the county | ||||||
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| 1 | clerk to abate all or a portion of the taxes levied by the | ||||||
| 2 | taxing district on the property of the qualified tool and | ||||||
| 3 | manufacturing business located within the taxing district. | ||||||
| 4 | "Qualified tool and manufacturing business" means a | ||||||
| 5 | business with (i) fewer than 75 full-time employees and (ii) a | ||||||
| 6 | North American Industrial Classification System (NAICS) | ||||||
| 7 | subsector classification of: | ||||||
| 8 | Plastics and Rubber Products Manufacturing (326); | ||||||
| 9 | Primary Metal Manufacturing (331); | ||||||
| 10 | Fabricated Metal Product Manufacturing (332); | ||||||
| 11 | Machinery Manufacturing (333); | ||||||
| 12 | Computer and Electronic Product Manufacturing (334); | ||||||
| 13 | Electrical Equipment, Appliance, and Component | ||||||
| 14 | Manufacturing (335); | ||||||
| 15 | Transportation Equipment Manufacturing (336); | ||||||
| 16 | Furniture and Related Product Manufacturing (337); or | ||||||
| 17 | Miscellaneous Manufacturing (339). | ||||||
| 18 | "Qualified tool and manufacturing business property" means | ||||||
| 19 | property owned by a qualified tool and manufacturing business | ||||||
| 20 | and used by that business primarily for tool and manufacturing | ||||||
| 21 | business operations. "Qualified tool and manufacturing | ||||||
| 22 | business property" also includes property leased by a qualified | ||||||
| 23 | tool and manufacturing business and used primarily for tool and | ||||||
| 24 | manufacturing business operations if the qualified tool and | ||||||
| 25 | manufacturing business is liable for paying real property taxes | ||||||
| 26 | on the property. Qualified tool and manufacturing business | ||||||
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| 1 | property is considered to be used primarily for tool and | ||||||
| 2 | manufacturing business operations if 75% or more of the gross | ||||||
| 3 | revenue of the tool and manufacturing business is generated | ||||||
| 4 | from tool and manufacturing operations that take place on that | ||||||
| 5 | property during the taxable year.
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| 6 | Section 99. Effective date. This Act takes effect upon | ||||||
| 7 | becoming law.
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