Sen. Michael Connelly
Filed: 2/26/2013
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| 1 | AMENDMENT TO SENATE BILL 1519
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| 2 | AMENDMENT NO. ______. Amend Senate Bill 1519 by replacing | ||||||
| 3 | everything after the enacting clause with the following:
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| 4 | "Section 5. The Property Tax Code is amended by adding | ||||||
| 5 | Section 18-184.15 as follows: | ||||||
| 6 | (35 ILCS 200/18-184.15 new) | ||||||
| 7 | Sec. 18-184.15. Tool and manufacturing abatement. | ||||||
| 8 | Beginning in taxable year 2014, any taxing district may order | ||||||
| 9 | the county
clerk to abate all or a portion of the
taxes levied | ||||||
| 10 | by the taxing district on qualified tool and manufacturing | ||||||
| 11 | business property located within the taxing district. | ||||||
| 12 | "Qualified tool and manufacturing business" means a | ||||||
| 13 | business with (i) fewer than 75 full-time employees and (ii) a | ||||||
| 14 | North American Industrial Classification System (NAICS) | ||||||
| 15 | subsector classification of: | ||||||
| 16 | Plastics and Rubber Products Manufacturing (326); | ||||||
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| 1 | Primary Metal Manufacturing (331); | ||||||
| 2 | Fabricated Metal Product Manufacturing (332); | ||||||
| 3 | Machinery Manufacturing (333); | ||||||
| 4 | Computer and Electronic Product Manufacturing (334); | ||||||
| 5 | Electrical Equipment, Appliance, and Component | ||||||
| 6 | Manufacturing (335); | ||||||
| 7 | Transportation Equipment Manufacturing (336); | ||||||
| 8 | Furniture and Related Product Manufacturing (337); or | ||||||
| 9 | Miscellaneous Manufacturing (339). | ||||||
| 10 | "Qualified tool and manufacturing business property" means | ||||||
| 11 | property owned by a qualified tool and manufacturing business | ||||||
| 12 | and used by that business primarily for tool and manufacturing | ||||||
| 13 | business operations. "Qualified tool and manufacturing | ||||||
| 14 | business property" also includes property leased by a qualified | ||||||
| 15 | tool and manufacturing business and used primarily for tool and | ||||||
| 16 | manufacturing business operations if the qualified tool and | ||||||
| 17 | manufacturing business is liable for paying real property taxes | ||||||
| 18 | on the property. Qualified tool and manufacturing business | ||||||
| 19 | property is considered to be used primarily for tool and | ||||||
| 20 | manufacturing business operations if 75% or more of the gross | ||||||
| 21 | revenue of the tool and manufacturing business is generated | ||||||
| 22 | from tool and manufacturing operations that take place on that | ||||||
| 23 | property during the taxable year.
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| 24 | Section 99. Effective date. This Act takes effect upon | ||||||
| 25 | becoming law.".
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