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| [ Senate Amendment 002 ] |
91_SB0038sam001
LRB9100943PTpkam
1 AMENDMENT TO SENATE BILL 38
2 AMENDMENT NO. . Amend Senate Bill 38 by replacing
3 everything after the enacting clause with the following:
4 "Section 5. The Property Tax Code is amended by changing
5 Section 10-25 as follows:
6 (35 ILCS 200/10-25)
7 Sec. 10-25. Model homes, townhomes, and condominium
8 units. If the construction of a single family dwelling is
9 completed after December 29, 1986 or the construction of a
10 single family townhome or condominium unit is completed after
11 the effective date of this amendatory Act of 1994, and that
12 dwelling, townhome, or condominium unit is not occupied as a
13 dwelling but is used as a display or demonstration model
14 home, townhome or condominium unit for prospective buyers of
15 the dwelling or of similar homes, townhomes, or condominium
16 units to be built on other property, the assessed value of
17 the property on which the dwelling, townhome, or condominium
18 was constructed shall be the same as the assessed value of
19 the property prior to construction and prior to any change in
20 the zoning classification of the property prior to
21 construction of the dwelling, townhome or condominium unit.
22 The application of this Section shall not be affected if the
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1 display or demonstration model home, townhome or condominium
2 unit contains home furnishings, appliances, offices, and
3 office equipment to further sales activities. This Section
4 shall not be applicable if the dwelling, townhome, or
5 condominium unit is occupied as a dwelling or the property on
6 which the dwelling, townhome, or condominium unit is situated
7 is sold or leased for use other than as a display or
8 demonstration model home, townhome, or condominium unit. No
9 property shall be eligible for calculation of its assessed
10 value under this Section for more than a 10-year period. If
11 the dwelling, townhome, or condominium unit becomes
12 ineligible for the alternate valuation, the owner shall
13 within 60 days file with the chief county assessment officer
14 a certificate giving notice of such ineligibility.
15 For the purposes of this Section, no corporation,
16 individual, sole proprietor or partnership may have more than
17 a total of 3 model homes, townhomes, or condominium units at
18 the same time within a 3 mile radius. The center point of
19 each radius shall be the display or demonstration model that
20 has been used as such for the longest period of time. The
21 person liable for taxes on property eligible for assessment
22 as provided in this Section shall file a verified application
23 with the chief county assessment officer on or before (i)
24 April 30 of each assessment year for which that assessment is
25 desired in counties with a population of 3,000,000 or more
26 and (ii) December January 31 of each assessment year for
27 which that assessment is desired in all other counties.
28 Failure to make a timely filing in any assessment year
29 constitutes a waiver of the right to benefit for that
30 assessment year.
31 (Source: P.A. 88-389; 88-455; 88-660, eff. 9-16-94; 88-670,
32 eff. 12-2-94.)
33 Section 99. Effective date. This Act takes effect upon
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1 becoming law.".