HB0305 96TH GENERAL ASSEMBLY

LRB096 02887 HLH 12901 b

96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB0305

Introduced 1/23/2009, by Rep. Robert Rita

SYNOPSIS AS INTRODUCED:

35 ILCS 200/15-15
35 ILCS 200/15-20

Amends the Property Tax Code. Provides that, if exempt property is leased, loaned, or otherwise made available for profit, the titleholder or the owner of the beneficial interest must file a copy of the lease or agreement with the collector's office. Provides that, if there is a change in use, leasehold estate, or titleholder of record for exempt property, then the transferee must notify the collector's office in writing within 30 days of the change. Effective immediately.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning revenue.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Property Tax Code is amended by changing Sections 15-15 and 15-20 as follows:

(35 ILCS 200/15-15)

Sec. 15-15. Obligation to file copies of leases or agreements. If any property listed as exempt by the chief county assessment officer is leased, loaned or otherwise made available for profit, the titleholder or the owner of the beneficial interest shall file with the assessment officer and the collector's office a copy of all such leases or agreements and a complete description of the premises, so the chief county assessment officer can ascertain the exact size and location of the premises in order to create a tax parcel. Failure to file such leases, agreements or descriptions with both the assessment officer and the collector's office shall, in the discretion of the chief county assessment officer, constitute cause to terminate the exemption, notwithstanding any other provision of this Code.

(Source: P.A. 87-895; 87-1189; 88-455.)

(35 ILCS 200/15-20)

Sec. 15-20. Notification requirements after change in use or ownership. If any property listed as exempt by the chief county assessment officer has a change in use, a change in leasehold estate, or a change in titleholder of record by purchase, grant, taking or transfer, it is the obligation of the transferee to notify the chief county assessment officer and the collector's office in writing within 30 days of the change. The notice shall be sent by certified mail, return receipt requested, and shall include the name and address of the taxpayer, the legal description of the property, the address of the property, and the permanent index number of the property where such number exists. If the failure to give such notification results in the assessment officer listing the property as exempt in subsequent years, the property shall be considered omitted property for purposes of this Code.

(Source: P.A. 87-895; 87-1189; 88-455; incorporates 88-221; 88-670, eff. 12-2-94.)

Section 99. Effective date. This Act takes effect upon becoming law.