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| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB3918 Introduced 5/9/2012, by Sen. Dan Kotowski SYNOPSIS AS INTRODUCED:
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| 35 ILCS 200/18-184.15 new | |
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Amends the Property Tax Code. Provides that any taxing district may order the county
clerk to abate all or a portion of the
taxes levied by the taxing district on certain tool and die business property. Effective immediately.
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| | | FISCAL NOTE ACT MAY APPLY | | HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY |
| | A BILL FOR |
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| | SB3918 | | LRB097 21369 HLH 69284 b |
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| 1 | | AN ACT concerning revenue.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Property Tax Code is amended by adding |
| 5 | | Section 18-184.15 as follows:
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| 6 | | (35 ILCS 200/18-184.15 new) |
| 7 | | Sec. 18-184.15. Tool and die abatement. Beginning in |
| 8 | | taxable year 2012, any taxing district may order the county
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| 9 | | clerk to abate all or a portion of the
taxes levied by the |
| 10 | | taxing district on qualified tool and die business property |
| 11 | | located within the taxing district. |
| 12 | | "Qualified tool and die business" means a business (i) with |
| 13 | | a North American Industrial Classification System (NAICS) |
| 14 | | classification of 332997, 333511, 333512, 333513, 333514, or |
| 15 | | 333515 and (ii) with fewer than 75 full-time employees. |
| 16 | | "Qualified tool and die business property" means property |
| 17 | | owned by a qualified tool and die business and used by that |
| 18 | | business primarily for tool and die business operations. |
| 19 | | "Qualified tool and die business property" also includes |
| 20 | | property leased by a qualified tool and die business and used |
| 21 | | primarily for tool and die business operations if the qualified |
| 22 | | tool and die business is liable for paying real property taxes |
| 23 | | on the property. Qualified tool and die business property is |