Bill Status of HB1842 102nd General Assembly
Short Description: PROP TX- SOUTHLAND PROPERTY
Rep. Anthony DeLuca - Debbie Meyers-Martin - Nicholas K. Smith and William Davis
| 3/27/2021||House||Rule 19(a) / Re-referred to Rules Committee|
Statutes Amended In Order of Appearance
|35 ILCS 200/Art. 10 Div. 21 heading new|
Synopsis As Introduced
Amends the Property Tax Code. Provides that certain property located in Bloom, Bremen, Calumet, Rich, Thornton, or Worth Township may be certified as southland reactivation property. Provides that, beginning with the first tax year after the property is certified as southland reactivation property and continuing through the twelfth tax year after the property is certified as southland reactivation property, the property shall be valued at 50% of the last known equalized assessed value. Sets forth the maximum aggregate tax liability for property that has been certified as southland reactivation property. Effective immediately.