94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
SB2765

 

Introduced 1/20/2006, by Sen. Gary Forby

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/10-147

    Amends the Property Tax Code. Makes a technical change in a Section concerning the assessment of former farms and open spaces.


LRB094 18723 BDD 54092 b

 

 

A BILL FOR

 

SB2765 LRB094 18723 BDD 54092 b

1     AN ACT concerning revenue.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Property Tax Code is amended by changing
5 Section 10-147 as follows:
 
6     (35 ILCS 200/10-147)
7     Sec. 10-147. Former farm; open space. Beginning with the
8 the 1992 assessment year, the equalized assessed value of any
9 tract of real property that has not been used as a farm for 20
10 or more consecutive years shall not be determined under
11 Sections 10-110 through 10-140. If no other use is established,
12 the tract shall be considered to be used for open space
13 purposes and its valuation shall be determined under Sections
14 10-155 through 10-165.
15 (Source: P.A. 87-1270; 88-455.)
 
16     Section 99. Effective date. This Act takes effect upon
17 becoming law.