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| [ Engrossed ] | [ Senate Amendment 001 ] |
92_SB0173
LRB9203289SMdv
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, or its subordinate organization or entity, that
11 is an exempt entity under Section 501(c)(8) of the Internal
12 Revenue Code and whose members provide, directly or
13 indirectly, financial support for charitable works, which may
14 include medical care, drug rehabilitation, or education,
15 shall be established by the chief county assessment officer
16 as follows:
17 (1) if the property meets the qualifications set
18 forth in this Section on January 1, 2002 and on January 1
19 of each subsequent assessment year, for assessment year
20 2002 and each subsequent assessment year, the final
21 assessed value of the property shall be 15% of the final
22 assessed value of the property for the assessment year
23 2001; or
24 (2) if the property first meets the qualifications
25 set forth in this Section on January 1 of any assessment
26 year after assessment year 2002 and on January 1 of each
27 subsequent assessment year, for that first assessment
28 year and each subsequent assessment year, the final
29 assessed value shall be 15% of the final assessed value
30 of the property for the assessment year in which the
31 property first meets the qualifications set forth in this
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1 Section.
2 If, in any year, additions or improvements are made to
3 property subject to assessment under this Section and the
4 additions or improvements would increase the assessed value
5 of the property, then 15% of the final assessed value of the
6 additions or improvements shall be added to the final
7 assessed value of the property for the year in which the
8 additions or improvements are completed and for all
9 subsequent years that the property is eligible for assessment
10 under this Section.
11 (b) For purposes of this Section, "final assessed value"
12 means the assessed value after final board of review action.
13 (c) Fraternal organizations whose property is assessed
14 under this Section must annually submit an application to the
15 chief county assessment officer on or before (i) January 31
16 of the assessment year in counties with a population of
17 3,000,000 or more and (ii) December 31 of the assessment year
18 in all other counties. The initial application must contain
19 the information required by the Department of Revenue, which
20 shall prepare the form, including:
21 (1) a copy of the organization's charter from the
22 State of Illinois, if applicable;
23 (2) the location or legal description of the
24 property on which is located the principal building for
25 the organization, including the PIN number, if available;
26 (3) a written instrument evidencing that the
27 organization is the record owner or has a legal or
28 equitable interest in the property;
29 (4) an affidavit that the organization is liable
30 for paying the real property taxes on the property; and
31 (5) the signature of the organization's chief
32 presiding officer.
33 Subsequent applications shall include any changes in the
34 initial application and shall affirm the ownership, use, and
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1 liability for taxes for the year in which it is submitted.
2 All applications shall be notarized.
3 (d) This Section does not apply to parcels exempt from
4 property taxes under this Code.
5 Section 10. The State Mandates Act is amended by adding
6 Section 8.25 as follows:
7 (30 ILCS 805/8.25 new)
8 Sec. 8.25. Exempt mandate. Notwithstanding Sections 6
9 and 8 of this Act, no reimbursement by the State is required
10 for the implementation of any mandate created by this
11 amendatory Act of the 92nd General Assembly.
12 Section 99. Effective Date. This Act takes effect on
13 January 1, 2002.