103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
SB1320

 

Introduced 2/6/2023, by Sen. Celina Villanueva

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/15-15

    Amends the Property Tax Code. In provisions concerning the obligation of the titleholder or owner of a beneficial interest in exempt property to file a copy of certain leases or agreements with the chief county assessment officer, provides that, if the titleholder or the owner of the beneficial interest fails to comply with those provisions and no other party to the lease or agreement does so, then the titleholder or the owner of the beneficial interest shall be liable for any unpaid taxes up to the amount received under the lease or agreement by the titleholder or owner of the beneficial interest.


LRB103 27497 HLH 53871 b

 

 

A BILL FOR

 

SB1320LRB103 27497 HLH 53871 b

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 15-15 as follows:
 
6    (35 ILCS 200/15-15)
7    Sec. 15-15. Obligation to file copies of leases or
8agreements.
9    (a) If any property listed as exempt by the chief county
10assessment officer is leased, loaned or otherwise made
11available for profit, the titleholder or the owner of the
12beneficial interest shall file with the assessment officer a
13copy of all such leases or agreements and a complete
14description of the premises, so the chief county assessment
15officer can ascertain the exact size and location of the
16premises in order to create a tax parcel.
17    (b) Failure to file such leases, agreements or
18descriptions shall, in the discretion of the chief county
19assessment officer, constitute cause to terminate the
20exemption, notwithstanding any other provision of this Code.
21If the titleholder or the owner of the beneficial interest
22fails to comply with the requirements of subsection (a) and no
23other party to the lease or agreement does so, then,

 

 

SB1320- 2 -LRB103 27497 HLH 53871 b

1notwithstanding any other provision of law, the titleholder or
2the owner of the beneficial interest shall be liable for any
3unpaid taxes up to the amount received under the lease or
4agreement by the titleholder or owner of the beneficial
5interest.
6(Source: P.A. 87-895; 87-1189; 88-455.)