Illinois 2023-2024 Regular Session

Illinois House Bill HB5647 Compare Versions

Only one version of the bill is available at this time.

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1	1	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB5647 Introduced 2/9/2024, by Rep. Anthony DeLuca SYNOPSIS AS INTRODUCED: 35 ILCS 200/9-153 new Amends the Property Tax Code. Provides that, from assessment year 2025 through assessment year 2030, in Bremen, Bloom, Rich, and Thornton townships in Cook County, commercial and industrial property shall be assessed at the same level of assessment as residential property. Provides that, beginning with assessment year 2031, Cook County may establish a sliding scale with respect to the statutory level of assessment for commercial and industrial property in those townships that allows those properties to be subject to the same level of assessment as other commercial and industrial property in the county. Preempts the exercise of home rule powers. Effective immediately. LRB103 38371 HLH 68506 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB5647 Introduced 2/9/2024, by Rep. Anthony DeLuca SYNOPSIS AS INTRODUCED: 35 ILCS 200/9-153 new 35 ILCS 200/9-153 new Amends the Property Tax Code. Provides that, from assessment year 2025 through assessment year 2030, in Bremen, Bloom, Rich, and Thornton townships in Cook County, commercial and industrial property shall be assessed at the same level of assessment as residential property. Provides that, beginning with assessment year 2031, Cook County may establish a sliding scale with respect to the statutory level of assessment for commercial and industrial property in those townships that allows those properties to be subject to the same level of assessment as other commercial and industrial property in the county. Preempts the exercise of home rule powers. Effective immediately. LRB103 38371 HLH 68506 b LRB103 38371 HLH 68506 b A BILL FOR
2	2	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB5647 Introduced 2/9/2024, by Rep. Anthony DeLuca SYNOPSIS AS INTRODUCED:
3	3	35 ILCS 200/9-153 new 35 ILCS 200/9-153 new
4	4	35 ILCS 200/9-153 new
5	5	Amends the Property Tax Code. Provides that, from assessment year 2025 through assessment year 2030, in Bremen, Bloom, Rich, and Thornton townships in Cook County, commercial and industrial property shall be assessed at the same level of assessment as residential property. Provides that, beginning with assessment year 2031, Cook County may establish a sliding scale with respect to the statutory level of assessment for commercial and industrial property in those townships that allows those properties to be subject to the same level of assessment as other commercial and industrial property in the county. Preempts the exercise of home rule powers. Effective immediately.
6	6	LRB103 38371 HLH 68506 b LRB103 38371 HLH 68506 b
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8	8	A BILL FOR
9	9	HB5647LRB103 38371 HLH 68506 b HB5647 LRB103 38371 HLH 68506 b
10	10	HB5647 LRB103 38371 HLH 68506 b
11	11	1 AN ACT concerning revenue.
12	12	2 Be it enacted by the People of the State of Illinois,
13	13	3 represented in the General Assembly:
14	14	4 Section 5. The Property Tax Code is amended by adding
15	15	5 Section 9-153 as follows:
16	16	6 (35 ILCS 200/9-153 new)
17	17	7 Sec. 9-153. Balanced level of assessment. Notwithstanding
18	18	8 any other provision of law, from assessment year 2025 through
19	19	9 assessment year 2030, in Bremen, Bloom, Rich, and Thornton
20	20	10 townships in Cook County, commercial and industrial property
21	21	11 shall be assessed at the same level of assessment as
22	22	12 residential property in those townships. Beginning with
23	23	13 assessment year 2031, Cook County may establish a sliding
24	24	14 scale with respect to the statutory level of assessment for
25	25	15 commercial and industrial property in those townships that
26	26	16 allows those properties to be subject to the same level of
27	27	17 assessment as other commercial and industrial property in the
28	28	18 county.
29	29	19 This Section is a denial and limitation of home rule
30	30	20 powers and functions under subsection (g) of Section 6 of
31	31	21 Article VII of the Illinois Constitution.
32	32	22 Section 99. Effective date. This Act takes effect upon
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36	36	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB5647 Introduced 2/9/2024, by Rep. Anthony DeLuca SYNOPSIS AS INTRODUCED:
37	37	35 ILCS 200/9-153 new 35 ILCS 200/9-153 new
38	38	35 ILCS 200/9-153 new
39	39	Amends the Property Tax Code. Provides that, from assessment year 2025 through assessment year 2030, in Bremen, Bloom, Rich, and Thornton townships in Cook County, commercial and industrial property shall be assessed at the same level of assessment as residential property. Provides that, beginning with assessment year 2031, Cook County may establish a sliding scale with respect to the statutory level of assessment for commercial and industrial property in those townships that allows those properties to be subject to the same level of assessment as other commercial and industrial property in the county. Preempts the exercise of home rule powers. Effective immediately.
40	40	LRB103 38371 HLH 68506 b LRB103 38371 HLH 68506 b
41	41	LRB103 38371 HLH 68506 b
42	42	A BILL FOR
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