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92_SB0173sam001
SRS92SB0173NCcpam02
1 AMENDMENT TO SENATE BILL 173
2 AMENDMENT NO. . Amend Senate Bill 173 by replacing
3 the title with the following:
4 "AN ACT concerning taxation."; and
5 by replacing everything after the enacting clause with the
6 following:
7 "Section 5. The Property Tax Code is amended by adding
8 Section 10-355 as follows:
9 (35 ILCS 200/10-355 new)
10 Sec. 10-355. Fraternal organization assessment freeze.
11 (a) For the taxable year 2002 and thereafter, the
12 assessed value of real property owned and used by a fraternal
13 organization, or its subordinate organization or entity, that
14 was chartered in Illinois in July of 1896 and is an exempt
15 entity under Section 501(c)(8) of the Internal Revenue Code
16 shall be established by the chief county assessment officer
17 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
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1 assessed value of the property shall be 15% of the final
2 assessed value of the property for the assessment year
3 2001; or
4 (2) if the property first meets the qualifications
5 set forth in this Section on January 1 of any assessment
6 year after assessment year 2002 and on January 1 of each
7 subsequent assessment year, for that first assessment
8 year and each subsequent assessment year, the final
9 assessed value shall be 15% of the final assessed value
10 of the property for the assessment year in which the
11 property first meets the qualifications set forth in this
12 Section.
13 If, in any year, additions or improvements are made to
14 property subject to assessment under this Section and the
15 additions or improvements would increase the assessed value
16 of the property, then 15% of the final assessed value of the
17 additions or improvements shall be added to the final
18 assessed value of the property for the year in which the
19 additions or improvements are completed and for all
20 subsequent years that the property is eligible for assessment
21 under this Section.
22 (b) For purposes of this Section, "final assessed value"
23 means the assessed value after final board of review action.
24 (c) Fraternal organizations whose property is assessed
25 under this Section must annually submit an application to the
26 chief county assessment officer on or before (i) January 31
27 of the assessment year in counties with a population of
28 3,000,000 or more and (ii) December 31 of the assessment year
29 in all other counties. The initial application must contain
30 the information required by the Department of Revenue, which
31 shall prepare the form, including:
32 (1) a copy of the organization's charter from the
33 State of Illinois, if applicable;
34 (2) the location or legal description of the
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1 property on which is located the principal building for
2 the organization, including the PIN number, if available;
3 (3) a written instrument evidencing that the
4 organization is the record owner or has a legal or
5 equitable interest in the property;
6 (4) an affidavit that the organization is liable
7 for paying the real property taxes on the property; and
8 (5) the signature of the organization's chief
9 presiding officer.
10 Subsequent applications shall include any changes in the
11 initial application and shall affirm the ownership, use, and
12 liability for taxes for the year in which it is submitted.
13 All applications shall be notarized.
14 (d) This Section does not apply to parcels exempt from
15 property taxes under this Code.
16 Section 10. The State Mandates Act is amended by adding
17 Section 8.25 as follows:
18 (30 ILCS 805/8.25 new)
19 Sec. 8.25. Exempt mandate. Notwithstanding Sections 6
20 and 8 of this Act, no reimbursement by the State is required
21 for the implementation of any mandate created by this
22 amendatory Act of the 92nd General Assembly.
23 Section 99. Effective Date. This Act takes effect on
24 January 1, 2002.".