093_SB1883ham001

 










                                     LRB093 08674 SJM 15315 a

 1                    AMENDMENT TO SENATE BILL 1883

 2        AMENDMENT NO.     .  Amend Senate Bill 1883 by  replacing
 3    everything after the enacting clause with the following:

 4        "Section 5.  The Property Tax Code is amended by changing
 5    Section 31-5 as follows:

 6        (35 ILCS 200/31-5)
 7        Sec.  31-5.   Definitions.   "Recordation"  includes  the
 8    issuance  of  certificates  of  title  by Registrars of Title
 9    under the Registered Titles (Torrens)  Act  pursuant  to  the
10    filing  of deeds or trust documents for that purpose, as well
11    as the recording of deeds or trust documents by recorders.
12        "Department" means the Illinois Department of Revenue.
13        "Person" means any natural individual, firm, partnership,
14    association, joint stock company, joint adventure, public  or
15    private   corporation,   limited   liability  company,  or  a
16    receiver, executor, trustee, guardian or other representative
17    appointed by order of any court.
18        "Value"   means   the   amount   of   the   full   actual
19    consideration, including the amount of any  lien  assumed  by
20    the buyer.
21        "Trust document" means a document required to be recorded
22    under the Land Trust Recordation and Transfer Tax Act.
 
                            -2-      LRB093 08674 SJM 15315 a
 1    (Source: P.A. 92-651, eff. 7-11-02.)".