Illinois General Assembly - Bill Status for HB5355
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 Bill Status of HB5355  96th General Assembly


House Sponsors
Rep. John A. Fritchey - Kevin Joyce - Greg Harris - Sara Feigenholtz

Last Action
DateChamber Action
  1/11/2011HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 200/1-50
35 ILCS 200/9-144 new
30 ILCS 805/8.34 new

Synopsis As Introduced
Creates the Acquisition-Based Assessment Law and amends the Property Tax Code concerning acquisition-based assessments. Sets forth an alternative method of calculating fair cash value based on recent purchase prices, subject to certain maximum changes. Provides that the alternative valuation procedures apply in Cook County and in other counties that adopt those procedures by ordinance. Amends the State Mandates Act to require implementation without reimbursement by the State. Effective immediately.

DateChamber Action
  2/4/2010HouseFiled with the Clerk by Rep. John A. Fritchey
  2/4/2010HouseChief Co-Sponsor Rep. Kevin Joyce
  2/5/2010HouseFirst Reading
  2/5/2010HouseReferred to Rules Committee
  2/23/2010HouseAssigned to Revenue & Finance Committee
  3/2/2010HouseAdded Chief Co-Sponsor Rep. Greg Harris
  3/4/2010HouseAdded Chief Co-Sponsor Rep. Sara Feigenholtz
  3/15/2010HouseRule 19(a) / Re-referred to Rules Committee
  1/11/2011HouseSession Sine Die

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