Full Text of SB3455 103rd General Assembly
SB3455enr 103RD GENERAL ASSEMBLY | | | SB3455 Enrolled | | LRB103 36901 HLH 67014 b |
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| 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 Department of Revenue Law of the Civil | 5 | | Administrative Code of Illinois is amended by adding Section | 6 | | 2505-815 as follows: | 7 | | (20 ILCS 2505/2505-815 new) | 8 | | Sec. 2505-815. Property tax system study. The Department, | 9 | | in consultation with the Department of Commerce and Economic | 10 | | Opportunity, shall conduct a study to evaluate the property | 11 | | tax system in the State and shall analyze any information | 12 | | collected in connection with that study. The Department may | 13 | | also examine whether the existing property tax levy, | 14 | | assessment, appeal, and collection process is reasonable and | 15 | | fair and may issue recommendations to improve that process. | 16 | | For purposes of conducting the study and analyzing the data | 17 | | required under this Section, the Department may determine the | 18 | | scope of the historical data necessary to complete the study, | 19 | | but in no event shall the scope or time period be less than the | 20 | | 10 most recent tax years for which the Department has complete | 21 | | data. The study shall include, but need not be limited to, the | 22 | | following: | 23 | | (1) a comprehensive review of the classification |
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| 1 | | system used by Cook County in assessing real property in | 2 | | Cook County compared with the rest of the State, | 3 | | including, but not limited to, a projection of the impact, | 4 | | if any, that the assessment of real property in Cook | 5 | | County would exhibit if the classification system were to | 6 | | be phased-out and transitioned to a uniform level of | 7 | | assessment, and the impact, if any, that the Cook County | 8 | | classification system has or has had on economic | 9 | | development or job creation in the county; | 10 | | (2) a comprehensive review of State laws concerning | 11 | | the appeal of assessments at the local and State level and | 12 | | State laws concerning the collection of property taxes, | 13 | | including any issues that have resulted in delays in | 14 | | issuing property tax bills; | 15 | | (3) a comprehensive review of statewide assessment | 16 | | processes, including a comparison of assessment process in | 17 | | Cook County and other counties and practices in other | 18 | | states that allow for standardized assessment processes; | 19 | | (4) a comprehensive review of current property tax | 20 | | homestead exemptions, the impact of those exemptions, and | 21 | | the administration or application of those exemptions; | 22 | | (5) an analysis of preferential assessments or | 23 | | incentives, including, but not limited to, the resultant | 24 | | economic impact from preferential assessments; and | 25 | | (6) a review of the State's reliance on property taxes | 26 | | and the historical growth in property tax levies. |
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| 1 | | The Department may consult with Illinois institutions of | 2 | | higher education in conducting the study required under this | 3 | | Section. The Department may also consult with units of local | 4 | | government. To the extent practicable and where applicable, | 5 | | the Department may request relevant, publicly available | 6 | | property tax information from units of local government, | 7 | | including counties and municipalities, that is deemed | 8 | | necessary to complete the study required pursuant to this | 9 | | Section. Units of local government that are required to submit | 10 | | property tax information to the Department must do so in a | 11 | | reasonably expedient manner, to the extent possible, but in no | 12 | | event later than 60 days after the date upon which the | 13 | | Department requests that relevant information. | 14 | | The Department may complete a preliminary report that may | 15 | | be made available for public inspection via electronic means | 16 | | prior to the publication of the final report under this | 17 | | Section. The Department shall complete and submit the final | 18 | | report under this Section to the Governor and the General | 19 | | Assembly by July 1, 2026. A copy of both the preliminary | 20 | | report, if made available by the Department, and the final | 21 | | report shall be made available to the public via electronic | 22 | | means. The Department may allow for the submission of public | 23 | | comments from individuals, organizations, or associations | 24 | | representing residential property owners, commercial property | 25 | | owners, units of local government, or labor unions in Illinois | 26 | | prior to finalizing the final report under this Section and |
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| 1 | | after publication of the final report under this Section. If | 2 | | the Department allows for the submission of public comments, | 3 | | the Department shall publish via electronic means any and all | 4 | | materials submitted to the Department. | 5 | | This Section is repealed on December 31, 2026. |
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