95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB0798

 

Introduced 2/8/2007, by Sen. Don Harmon - Emil Jones, Jr.

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 250/25

    Amends the Longtime Owner-Occupant Property Tax Relief Act. Makes a technical change in a Section concerning retroactive application of the Act.


LRB095 05484 BDD 25574 b

 

 

A BILL FOR

 

SB0798 LRB095 05484 BDD 25574 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 Longtime Owner-Occupant Property Tax Relief
5 Act is amended by changing Section 25 as follows:
 
6     (35 ILCS 250/25)
7     Sec. 25. Retroactive application. The The corporate
8 authorities of a county to which this Act applies may use any
9 county record or other information that predates the effective
10 date of this Act by up to 5 years for the purpose of
11 determining whether an increase in the market value of a
12 longtime owner-occupant's principal residence is a consequence
13 of the refurbishing or renovating of other residences or the
14 construction of new residences in long-established residential
15 areas or areas of deteriorated, vacant, or abandoned homes and
16 properties.
17 (Source: P.A. 88-451.)