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| [ Introduced ] | [ Engrossed ] | [ House Amendment 001 ] |
| [ Senate Amendment 001 ] |
92_SB0015enr SB15 Enrolled LRB9201222MWpk 1 AN ACT concerning taxation. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Property Tax Code is amended by adding 5 Section 10-355 as follows: 6 (35 ILCS 200/10-355 new) 7 Sec. 10-355. Fraternal organization assessment freeze. 8 (a) For the taxable year 2002 and thereafter, the 9 assessed value of real property owned and used by a fraternal 10 organization that on December 31, 1926 had its national 11 headquarters in Illinois or that was chartered in Illinois in 12 July 1896, or its subordinate organization or entity, that is 13 exempt under Section 501(c)(8) of the Internal Revenue Code 14 and whose members provide, directly or indirectly, financial 15 support for charitable works, which may include medical care, 16 drug rehabilitation, or education, shall be established by 17 the chief county assessment officer as follows: 18 (1) if the property meets the qualifications set 19 forth in this Section on January 1, 2002 and on January 1 20 of each subsequent assessment year, for assessment year 21 2002 and each subsequent assessment year, the final 22 assessed value of the property shall be 15% of the final 23 assessed value of the property for the assessment year 24 2001; or 25 (2) if the property first meets the qualifications 26 set forth in this Section on January 1 of any assessment 27 year after assessment year 2002 and on January 1 of each 28 subsequent assessment year, for that first assessment 29 year and each subsequent assessment year, the final 30 assessed value shall be 15% of the final assessed value 31 of the property for the assessment year in which the SB15 Enrolled -2- LRB9201222MWpk 1 property first meets the qualifications set forth in this 2 Section. 3 If, in any year, additions or improvements are made to 4 property subject to assessment under this Section and the 5 additions or improvements would increase the assessed value 6 of the property, then 15% of the final assessed value of the 7 additions or improvements shall be added to the final 8 assessed value of the property for the year in which the 9 additions or improvements are completed and for all 10 subsequent years that the property is eligible for assessment 11 under this Section. 12 (b) For purposes of this Section, "final assessed value" 13 means the assessed value after final board of review action. 14 (c) Fraternal organizations whose property is assessed 15 under this Section must annually submit an application to the 16 chief county assessment officer on or before (i) January 31 17 of the assessment year in counties with a population of 18 3,000,000 or more and (ii) December 31 of the assessment year 19 in all other counties. The initial application must contain 20 the information required by the Department of Revenue, which 21 shall prepare the form, including: 22 (1) a copy of the organization's charter from the 23 State of Illinois, if applicable; 24 (2) the location or legal description of the 25 property on which is located the principal building for 26 the organization, including the PIN number, if available; 27 (3) a written instrument evidencing that the 28 organization is the record owner or has a legal or 29 equitable interest in the property; 30 (4) an affidavit that the organization is liable 31 for paying the real property taxes on the property; and 32 (5) the signature of the organization's chief 33 presiding officer. 34 Subsequent applications shall include any changes in the SB15 Enrolled -3- LRB9201222MWpk 1 initial application and shall affirm the ownership, use, and 2 liability for taxes for the year in which it is submitted. 3 All applications shall be notarized. 4 (d) This Section does not apply to parcels exempt from 5 property taxes under this Code. 6 Section 10. The State Mandates Act is amended by adding 7 Section 8.25 as follows: 8 (30 ILCS 805/8.25 new) 9 Sec. 8.25. Exempt mandate. Notwithstanding Sections 6 10 and 8 of this Act, no reimbursement by the State is required 11 for the implementation of any mandate created by this 12 amendatory Act of the 92nd General Assembly. 13 Section 99. Effective Date. This Act takes effect on 14 January 1, 2002.