(35 ILCS 200/10-725) Sec. 10-725. Improvement valuation of commercial solar
energy systems in counties with fewer than 3,000,000
inhabitants. Beginning in assessment year 2018, the fair cash
value of commercial solar energy system improvements in counties
with fewer than 3,000,000 inhabitants shall be determined by
subtracting the allowance for physical depreciation from the
trended real property cost basis. Functional obsolescence and
external obsolescence of the solar energy device may further
reduce the fair cash value of the commercial solar energy system
improvements, to the extent they are proved by the taxpayer by
clear and convincing evidence.
(Source: P.A. 100-781, eff. 8-10-18.) |