92nd General Assembly
Summary of SB0015
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Senate Sponsors:
PHILIP-SULLIVAN.

House Sponsors:
DART-LYONS,JOSEPH-BLACK-FRANKS-HOFFMAN

Short description: 
PROP TX-FRATERNAL ORGS                                                     

Synopsis of Bill as introduced:
        Amends the Property Tax Code. Provides that, for the taxable year      
   2002 and thereafter, the assessed value of  real  property  owned  and      
   used   by   certain  fraternal  organizations,  or  their  subordinate      
   organizations or entities, that  are  exempt  entities  under  Section      
   501(c)(8)  of  the  Internal  Revenue  Code  and whose members provide      
   support for charitable works shall be established by the chief  county      
   assessment  officer at 15% of the final assessed value of the property      
   for  the  assessment  year  2001,  or  if  the  property   meets   the      
   qualifications  for the reduced assessment after assessment year 2002,      
   the final assessed value shall be 15% of the final assessed  value  of      
   the property for the assessment year in which the property first meets      
   the qualifications.  Effective January 1, 2002.                             
        SENATE AMENDMENT NO. 1.                                                
          Deletes reference to:                                                
          35 ILCS 200/Act. 10, Div. 13 heading new                             
          35 ILCS 200/10-351 new                                               
          Adds reference to:                                                   
          35 ILCS 200/10-355 new                                               
        Replaces the title and  everything  after  the  enacting  clause.      
   Reinserts  the contents of the bill as introduced.  Provides that only      
   fraternal  organizations  that  had  their  national  headquarters  in      
   Illinois on December  31,  1926  may  qualify  for  the  property  tax      
   valuation.  Effective January 1, 2002.                                      
        HOUSE AMENDMENT NO. 1.                                                 
        Provides that the reduction  in  assessment  also  applies  to  a      
   fraternal  organization,  or  its  subordinate organization or entity,      
   that was chartered in Illinois in July of 1896 if it meets the other        
   criteria for an assessment reduction.                                       
 
Last action on Bill: PUBLIC ACT.............................. 92-0388

   Last action date: AUG-16-2001

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   1     SENATE -   1


   END OF INQUIRY 



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