Illinois General Assembly - Bill Status for HB2355
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 Bill Status of HB2355  96th General Assembly

Short Description:  PROP TX-ASSESSMENTS

House Sponsors
Rep. Lou Lang

Last Action
DateChamber Action
  1/11/2011HouseSession 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.

DateChamber Action
  2/18/2009HouseFiled with the Clerk by Rep. Lou Lang
  2/19/2009HouseFirst Reading
  2/19/2009HouseReferred to Rules Committee
  2/23/2009HouseAssigned to Revenue & Finance Committee
  3/13/2009HouseRule 19(a) / Re-referred to Rules Committee
  1/11/2011HouseSession Sine Die

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