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90_HB0982
35 ILCS 200/10-40
35 ILCS 200/10-60
35 ILCS 200/10-80
Amends the Property Tax Code. Provides that
owner-occupied multi-family residences may qualify as
historic residences and be eligible for the certificate of
rehabilitation and special valuation during an 8-year
valuation period. Makes changes to conform the treatment of
historic owner-occupied multi-family residences to that of
historic owner-occupied single family residences or historic
cooperatives.
LRB9004493KDsb
LRB9004493KDsb
1 AN ACT to amend the Property Tax Code by changing
2 Sections 10-40, 10-60, and 10-80.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Property Tax Code is amended by changing
6 Sections 10-40, 10-60, and 10-80 as follows:
7 (35 ILCS 200/10-40)
8 Sec. 10-40. Historic residences; definitions. As used
9 in this Section and Sections 10-45 through 10-85:
10 (a) "Director" means the Director of Historic
11 Preservation.
12 (b) "Approved county or municipal landmark ordinance"
13 means a county or municipal ordinance approved by the
14 Director.
15 (c) "Historic building" means an owner-occupied single
16 family residence or an owner-occupied multi-family residence
17 and the tract, lot or parcel upon which it is located, or a
18 building or buildings owned and operated as a cooperative,
19 if:
20 (1) individually listed on the National Register of
21 Historic Places or the Illinois Register of Historic
22 Places;
23 (2) individually designated pursuant to an approved
24 county or municipal landmark ordinance; or
25 (3) within a district listed on the National
26 Register of Historic Places or designated pursuant to an
27 approved county or municipal landmark ordinance, if the
28 Director determines that the building is of historic
29 significance to the district in which it is located.
30 Historic building does not mean an individual unit of a
31 cooperative.
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1 (d) "Assessment officer" means the chief county
2 assessment officer.
3 (e) "Certificate of rehabilitation" means the
4 certificate issued by the Director upon the renovation,
5 restoration, preservation or rehabilitation of an historic
6 building under this Code.
7 (f) "Rehabilitation period" means the period of time
8 necessary to renovate, restore, preserve or rehabilitate an
9 historic building as determined by the Director.
10 (g) "Standards for rehabilitation" means the Secretary
11 of Interior's standards for rehabilitation as promulgated by
12 the U.S. Department of the Interior.
13 (h) "Fair cash value" means the fair cash value of the
14 historic building determined on the basis of the assessment
15 officer's property record card.
16 (i) "Base year valuation" means the fair cash value of
17 the historic building for the year in which the
18 rehabilitation period begins.
19 (j) "Adjustment in value" means the difference for any
20 year between the then current fair cash value and the base
21 year valuation.
22 (k) "Eight-year valuation period" means the 8 years from
23 the date of the issuance of the certificate of
24 rehabilitation.
25 (l) "Adjustment valuation period" means the 4 years
26 following the 8 year valuation period.
27 (m) "Substantial rehabilitation" means interior or
28 exterior rehabilitation work that preserves the historic
29 building in a manner that significantly improves its
30 condition.
31 (n) "Approved local government" means a local government
32 that has been certified by the Director as:
33 (1) enforcing appropriate legislation for the
34 designation of historic buildings;
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1 (2) having established an adequate and qualified
2 historic review commission;
3 (3) maintaining a system for the survey and
4 inventory of historic properties;
5 (4) providing for adequate public participation in
6 the local historic preservation program; and
7 (5) maintaining a system for reviewing applications
8 under this Section in accordance with rules and
9 regulations promulgated by the Director.
10 (o) "Cooperative" means a building or buildings and the
11 tract, lot, or parcel on which the building or buildings are
12 located, if the building or buildings are devoted to
13 residential uses by the owners and fee title to the land and
14 building or buildings is owned by a corporation or other
15 legal entity in which the shareholders or other co-owners
16 each also have a long-term proprietary lease or other
17 long-term arrangement of exclusive possession for a specific
18 unit of occupancy space located within the same building or
19 buildings.
20 (p) "Owner", in the case of a cooperative, means the
21 Association.
22 (q) "Association", in the case of a cooperative, means
23 the entity responsible for the administration of a
24 cooperative, which entity may be incorporated or
25 unincorporated, profit or nonprofit.
26 (r) "Owner-occupied single family residence" means a
27 residence in which only the title holder of record (i) holds
28 fee simple ownership and (ii) occupies the entire residence.
29 (s) "Owner-occupied multi-family residence" means a
30 residence in which only the title holder of record (i) holds
31 fee simple ownership and (ii) occupies one unit of the entire
32 residence, in which not more than 4 units total may exist.
33 The remaining units may be occupied by lessees of the units
34 only.
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1 "Unit" means a part of the property designated and
2 intended for any type of independent use.
3 (Source: P.A. 88-455; 89-675, eff. 8-14-96.)
4 (35 ILCS 200/10-60)
5 Sec. 10-60. Certificate of status. It is the duty of
6 the titleholder of record or the owner of the beneficial
7 interest of any historic building which has been issued a
8 certificate of rehabilitation, to file with the chief county
9 assessment officer, on or before January 31 of each year, an
10 affidavit stating whether there has been any change in the
11 ownership or use of such property, the status of the
12 owner-occupant, or, in the case of a cooperative, whether
13 there has been a change in the use of the property or a
14 change in the cooperative form of ownership. If there has
15 been such a change, the nature of this change shall be
16 stated. Failure to file such an affidavit shall, in the
17 discretion of the chief county assessment officer, constitute
18 cause to revoke the certificate of rehabilitation. The chief
19 county assessment officer shall furnish to the owner a form
20 for the affidavit wherein the owner may state whether there
21 has been any change in the ownership or use of the property
22 or the status of the owner. If the chief county assessment
23 officer determines that the historic building is no longer
24 used as an owner-occupied single family residence or an
25 owner-occupied multi-family residence, or that there has been
26 a sale or transfer for value of the historic building other
27 than to the first owner-occupant after the issuance of a
28 certificate of rehabilitation, or that the historic building
29 no longer meets the definition of a cooperative, he or she
30 shall revoke the certificate by written notice to the
31 taxpayer of record, and shall send a copy of that notice to
32 the Department.
33 (Source: P.A. 88-455; 89-675, eff. 8-14-96.)
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1 (35 ILCS 200/10-80)
2 Sec. 10-80. Rules and regulations. The Director may
3 promulgate rules and regulations as may be necessary to
4 administer this Code, including but not limited to provisions
5 that:
6 (1) Preclude the issuance of a certificate of
7 rehabilitation for any owner-occupied single family
8 residence, owner-occupied multi-family residence, or
9 cooperative where 30% or more of the dwelling space is
10 new construction outside the existing structure.
11 (2) Specify what costs are eligible to meet the 25%
12 minimum specified under subsection (b) of Section 10-55,
13 and make ineligible those costs attributable to new
14 construction outside the existing structure.
15 These regulations shall not preclude the issuance of a
16 certificate of rehabilitation for a condominium.
17 (Source: P.A. 88-455; 89-675, eff. 8-14-96.)