Illinois 2025-2026 Regular Session

Illinois House Bill HB1827 Compare Versions

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

Old	New	Differences
1	1	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1827 Introduced , by Rep. William "Will" Davis SYNOPSIS AS INTRODUCED: 35 ILCS 200/Art. 9 Div. 6 heading new35 ILCS 200/9-280 new35 ILCS 200/9-281 new Amends the Property Tax Code. Provides that, in counties with 3,000,000 or more inhabitants, taxpayers of income-producing property shall submit income and expense data annually to the chief county assessment officer on or before July 1 of each year. Provides that, in counties of fewer than 3,000,000 inhabitants, the county board may provide by ordinance or resolution that taxpayers of income-producing property shall submit income and expense data annually to the chief county assessment officer on or before March 31 of each year. Contains certain exceptions. Effective immediately. LRB104 03520 HLH 13543 b A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1827 Introduced , by Rep. William "Will" Davis SYNOPSIS AS INTRODUCED: 35 ILCS 200/Art. 9 Div. 6 heading new35 ILCS 200/9-280 new35 ILCS 200/9-281 new 35 ILCS 200/Art. 9 Div. 6 heading new 35 ILCS 200/9-280 new 35 ILCS 200/9-281 new Amends the Property Tax Code. Provides that, in counties with 3,000,000 or more inhabitants, taxpayers of income-producing property shall submit income and expense data annually to the chief county assessment officer on or before July 1 of each year. Provides that, in counties of fewer than 3,000,000 inhabitants, the county board may provide by ordinance or resolution that taxpayers of income-producing property shall submit income and expense data annually to the chief county assessment officer on or before March 31 of each year. Contains certain exceptions. Effective immediately. LRB104 03520 HLH 13543 b LRB104 03520 HLH 13543 b A BILL FOR
2	2	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1827 Introduced , by Rep. William "Will" Davis SYNOPSIS AS INTRODUCED:
3	3	35 ILCS 200/Art. 9 Div. 6 heading new35 ILCS 200/9-280 new35 ILCS 200/9-281 new 35 ILCS 200/Art. 9 Div. 6 heading new 35 ILCS 200/9-280 new 35 ILCS 200/9-281 new
4	4	35 ILCS 200/Art. 9 Div. 6 heading new
5	5	35 ILCS 200/9-280 new
6	6	35 ILCS 200/9-281 new
7	7	Amends the Property Tax Code. Provides that, in counties with 3,000,000 or more inhabitants, taxpayers of income-producing property shall submit income and expense data annually to the chief county assessment officer on or before July 1 of each year. Provides that, in counties of fewer than 3,000,000 inhabitants, the county board may provide by ordinance or resolution that taxpayers of income-producing property shall submit income and expense data annually to the chief county assessment officer on or before March 31 of each year. Contains certain exceptions. Effective immediately.
8	8	LRB104 03520 HLH 13543 b LRB104 03520 HLH 13543 b
9	9	LRB104 03520 HLH 13543 b
10	10	A BILL FOR
11	11	HB1827LRB104 03520 HLH 13543 b HB1827 LRB104 03520 HLH 13543 b
12	12	HB1827 LRB104 03520 HLH 13543 b
13	13	1 AN ACT concerning revenue.
14	14	2 Be it enacted by the People of the State of Illinois,
15	15	3 represented in the General Assembly:
16	16	4 Section 5. The Property Tax Code is amended by adding
17	17	5 Division 6 to Article 9 as follows:
18	18	6 (35 ILCS 200/Art. 9 Div. 6 heading new)
19	19	7 Division 6. Income-Producing Property
20	20	8 (35 ILCS 200/9-280 new)
21	21	9 Sec. 9-280. Definitions. As used in this Division 6:
22	22	10 "Expenses" means expenditures necessitated by the
23	23	11 operation of the real property itself that reduce the income
24	24	12 to the property owner or lessee. "Expenses" includes
25	25	13 management fees, reserves for replacement, maintenance,
26	26	14 property taxes, and insurance. "Expenses" does not include
27	27	15 debt service, reserves for building additions, or income tax.
28	28	16 "Income" means real property revenue that is directed to
29	29	17 or received by the property owner in the form of rent from
30	30	18 unrelated persons or entities and ancillary revenue to the
31	31	19 owner from unrelated persons or entities that is generated
32	32	20 exclusively from the operation of the real property itself,
33	33	21 such as revenue from parking or other amenities provided to or
34	34	22 for the benefit of the property's tenants. "Income" does not
35	35
36	36
37	37
38	38	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1827 Introduced , by Rep. William "Will" Davis SYNOPSIS AS INTRODUCED:
39	39	35 ILCS 200/Art. 9 Div. 6 heading new35 ILCS 200/9-280 new35 ILCS 200/9-281 new 35 ILCS 200/Art. 9 Div. 6 heading new 35 ILCS 200/9-280 new 35 ILCS 200/9-281 new
40	40	35 ILCS 200/Art. 9 Div. 6 heading new
41	41	35 ILCS 200/9-280 new
42	42	35 ILCS 200/9-281 new
43	43	Amends the Property Tax Code. Provides that, in counties with 3,000,000 or more inhabitants, taxpayers of income-producing property shall submit income and expense data annually to the chief county assessment officer on or before July 1 of each year. Provides that, in counties of fewer than 3,000,000 inhabitants, the county board may provide by ordinance or resolution that taxpayers of income-producing property shall submit income and expense data annually to the chief county assessment officer on or before March 31 of each year. Contains certain exceptions. Effective immediately.
44	44	LRB104 03520 HLH 13543 b LRB104 03520 HLH 13543 b
45	45	LRB104 03520 HLH 13543 b
46	46	A BILL FOR
47	47
48	48
49	49
50	50
51	51
52	52	35 ILCS 200/Art. 9 Div. 6 heading new
53	53	35 ILCS 200/9-280 new
54	54	35 ILCS 200/9-281 new
55	55
56	56
57	57
58	58	LRB104 03520 HLH 13543 b
59	59
60	60
61	61
62	62
63	63
64	64
65	65
66	66
67	67
68	68	HB1827 LRB104 03520 HLH 13543 b
69	69
70	70
71	71	HB1827- 2 -LRB104 03520 HLH 13543 b HB1827 - 2 - LRB104 03520 HLH 13543 b
72	72	HB1827 - 2 - LRB104 03520 HLH 13543 b
73	73	1 include revenue generated from personal property, including
74	74	2 but not limited to, revenue from a business enterprise that is
75	75	3 operated on the real property or improvements made to the
76	76	4 property by a tenant.
77	77	5 "Income and expense data" means data that identifies
78	78	6 income and expenses as defined in this Section. Income and
79	79	7 expense data may be found in annual reports, income and
80	80	8 expense statements, and Internal Revenue Service Schedule E or
81	81	9 Schedule 8825 tax forms for income-producing property for the
82	82	10 immediately preceding year. "Income and expense data" also
83	83	11 includes data from rent rolls for the current and immediately
84	84	12 preceding year. Income and expense data may be based on a
85	85	13 calendar or fiscal year.
86	86	14 "Income-producing property" means property that is not
87	87	15 owner-occupied, as defined in this Section, and is owned for
88	88	16 the purpose of generating income from the property itself,
89	89	17 whether or not such property actually generates income in a
90	90	18 particular year. "Income-producing property" does not include:
91	91	19 (1) property with a market value of $500,000 or less
92	92	20 in the most recent assessment year for which an assessment
93	93	21 is certified exclusive of any adjustments to assessed
94	94	22 value by a board of review, the Property Tax Appeal Board,
95	95	23 or the circuit court;
96	96	24 (2) residential property containing 6 or fewer
97	97	25 dwelling units;
98	98	26 (3) property assessed under Article 10 of this Code
99	99
100	100
101	101
102	102
103	103
104	104	HB1827 - 2 - LRB104 03520 HLH 13543 b
105	105
106	106
107	107	HB1827- 3 -LRB104 03520 HLH 13543 b HB1827 - 3 - LRB104 03520 HLH 13543 b
108	108	HB1827 - 3 - LRB104 03520 HLH 13543 b
109	109	1 and stadiums that are not qualified property under Section
110	110	2 10-215 that have a seating capacity of 20,000 or more and
111	111	3 host major professional sporting events;
112	112	4 (4) property that is assessed by the Department under
113	113	5 Article 11 of this Code;
114	114	6 (5) property that is owned or leased by a hospital
115	115	7 licensed under the Hospital Licensing Act or operated
116	116	8 under the University of Illinois Hospital Act, including
117	117	9 any hospital affiliate that directly or indirectly
118	118	10 controls, is controlled by, or is under common control
119	119	11 with a hospital; or
120	120	12 (6) property that is owned or leased by a facility
121	121	13 licensed under the Nursing Home Care Act that is an
122	122	14 intermediate or skilled facility.
123	123	15 "Net rentable area" means the square footage of an
124	124	16 improvement that may be leased or rented to tenants and
125	125	17 excludes common areas, such as elevators, stairways, and
126	126	18 atriums.
127	127	19 "Owner-occupied" means real property that is used or
128	128	20 occupied exclusively by a record owner or related entity or
129	129	21 real property where 80% or more of the net rentable area of the
130	130	22 property is occupied or held for future use by the record owner
131	131	23 of the property or a related person or entity as described in
132	132	24 subsection (b) of Section 267 of the Internal Revenue Code. If
133	133	25 more than 20% of the net rentable area of a property is subject
134	134	26 to an existing lease or is subject to short term rental of the
135	135
136	136
137	137
138	138
139	139
140	140	HB1827 - 3 - LRB104 03520 HLH 13543 b
141	141
142	142
143	143	HB1827- 4 -LRB104 03520 HLH 13543 b HB1827 - 4 - LRB104 03520 HLH 13543 b
144	144	HB1827 - 4 - LRB104 03520 HLH 13543 b
145	145	1 property by an unrelated entity, the property is not
146	146	2 considered owner-occupied for purposes of this Division.
147	147	3 "Property" has the meaning set forth in Section 1-130 of
148	148	4 this Code and includes contiguous parcels or property index
149	149	5 numbers that comprise one functional property location.
150	150	6 "Taxpayer" means the record owner of income-producing
151	151	7 property. The owner or lessee, whoever is contractually
152	152	8 obligated to pay property taxes directly to the county
153	153	9 treasurer, shall be required under this Article to submit
154	154	10 income and expense data that is within its possession and
155	155	11 control to the chief county assessment officer for the
156	156	12 relevant portion of the property over which it exercises
157	157	13 control.
158	158	14
159	159	15 (35 ILCS 200/9-281 new)
160	160	16 Sec. 9-281. Income-producing properties.
161	161	17 (a) In counties with 3,000,000 or more inhabitants,
162	162	18 taxpayers or lessees who are contractually obligated to pay
163	163	19 property taxes of income-producing property shall submit
164	164	20 income and expense data annually to the chief county
165	165	21 assessment officer on or before July 1 of each year, except as
166	166	22 otherwise provided in this Division. In the first year
167	167	23 following the effective date of this amendatory Act of the
168	168	24 104th General Assembly, income and expense data shall be
169	169	25 submitted by September 1. If a taxpayer or party who is
170	170
171	171
172	172
173	173
174	174
175	175	HB1827 - 4 - LRB104 03520 HLH 13543 b
176	176
177	177
178	178	HB1827- 5 -LRB104 03520 HLH 13543 b HB1827 - 5 - LRB104 03520 HLH 13543 b
179	179	HB1827 - 5 - LRB104 03520 HLH 13543 b
180	180	1 contractually obligated to pay property taxes is required to
181	181	2 submit income and expense data under this Article in
182	182	3 accordance with Section 9-280, the chief county assessment
183	183	4 officer shall notify, by certified mail, the record owner of
184	184	5 income-producing property at least 60 days prior to the date
185	185	6 for submission of the obligation to submit income and expense
186	186	7 data. Notice shall include the deadline for submission. If an
187	187	8 owner of record claims that another party is obligated to pay
188	188	9 property taxes directly to the county treasurer for all or a
189	189	10 portion of the property, then the owner shall send to the
190	190	11 obligated party a copy of the notice received from the chief
191	191	12 county assessment officer of the obligation to submit income
192	192	13 and expense data. The taxpayer or obligated party shall submit
193	193	14 income and expense data to the chief county assessment officer
194	194	15 in accordance with this Section for the relevant portion of
195	195	16 the property for which the taxpayer or obligated party is
196	196	17 required to pay the property taxes and exercises control over
197	197	18 such property, identified by parcel and area.
198	198	19 The chief county assessment officer may extend the time
199	199	20 within which taxpayers are required to submit income and
200	200	21 expense data under this Section.
201	201	22 If the taxpayer's books and records reflecting the
202	202	23 operation of the property are maintained on a calendar year
203	203	24 basis, the statement of income and expense data shall be for
204	204	25 the last full calendar year preceding the date that the
205	205	26 statement is submitted. If the taxpayer's books and records
206	206
207	207
208	208
209	209
210	210
211	211	HB1827 - 5 - LRB104 03520 HLH 13543 b
212	212
213	213
214	214	HB1827- 6 -LRB104 03520 HLH 13543 b HB1827 - 6 - LRB104 03520 HLH 13543 b
215	215	HB1827 - 6 - LRB104 03520 HLH 13543 b
216	216	1 reflecting the operation of the property are maintained on a
217	217	2 fiscal year basis for federal income tax purposes, the
218	218	3 statement of income and expense data shall be the last full
219	219	4 fiscal year preceding the date when the statement is
220	220	5 submitted.
221	221	6 The taxpayer or obligated party shall certify under oath
222	222	7 in a signed attestation that the statements set forth in
223	223	8 income and expense data submitted under this Article are true,
224	224	9 accurate, and complete to the best of his or her knowledge
225	225	10 except as to matters stated to be upon information and belief
226	226	11 and, as to such matters, the taxpayer or obligated party shall
227	227	12 certify that he or she believes the same to be true, accurate,
228	228	13 and complete.
229	229	14 (b) In counties of fewer than 3,000,000 inhabitants, the
230	230	15 county board may provide by ordinance or resolution that
231	231	16 taxpayers of income-producing property shall submit income and
232	232	17 expense data annually to the chief county assessment officer
233	233	18 on or before March 31 of each year. If a taxpayer or party who
234	234	19 is contractually obligated to pay taxes is required to submit
235	235	20 income and expense data under this Article, the chief county
236	236	21 assessment officer shall notify the taxpayer of that fact by
237	237	22 certified mail within 60 days of the due date for income and
238	238	23 expense data. Notice shall include the deadline for such
239	239	24 submission. If an owner of record claims that another party is
240	240	25 obligated to pay property taxes directly to the county
241	241	26 treasurer, then the owner shall send to the obligated party a
242	242
243	243
244	244
245	245
246	246
247	247	HB1827 - 6 - LRB104 03520 HLH 13543 b
248	248
249	249
250	250	HB1827- 7 -LRB104 03520 HLH 13543 b HB1827 - 7 - LRB104 03520 HLH 13543 b
251	251	HB1827 - 7 - LRB104 03520 HLH 13543 b
252	252	1 copy of any notice received from the chief county assessment
253	253	2 officer of the obligation to submit income and expense data.
254	254	3 The taxpayer or obligated party shall submit income and
255	255	4 expense data to the chief county assessment officer in
256	256	5 accordance with this Division for the relevant portion of the
257	257	6 property for which the taxpayer or obligated party is required
258	258	7 to pay the property taxes and exercises control over such
259	259	8 property, identified by parcel and area.
260	260	9 The chief county assessment officer may extend the time
261	261	10 within which taxpayers are required to submit income and
262	262	11 expense data under this Section.
263	263	12 If the taxpayer's books and records reflecting the
264	264	13 operation of the property are maintained on a calendar year
265	265	14 basis, the statement of income and expense data shall be for
266	266	15 the last full calendar year preceding the date that the
267	267	16 statement is submitted. If the taxpayer's books and records
268	268	17 reflecting the operation of the property are maintained on a
269	269	18 fiscal year basis for federal income tax purposes, the
270	270	19 statement of income and expense data shall be the last full
271	271	20 fiscal year preceding the date when the statement is
272	272	21 submitted.
273	273	22 The taxpayer or obligated party shall certify under oath
274	274	23 in a signed attestation that the statements set forth in
275	275	24 income and expense data submitted under this Article are true,
276	276	25 accurate, and complete, to the best of his or her knowledge
277	277	26 except as to matters stated to be upon information and belief
278	278
279	279
280	280
281	281
282	282
283	283	HB1827 - 7 - LRB104 03520 HLH 13543 b
284	284
285	285
286	286	HB1827- 8 -LRB104 03520 HLH 13543 b HB1827 - 8 - LRB104 03520 HLH 13543 b
287	287	HB1827 - 8 - LRB104 03520 HLH 13543 b
288	288	1 and, as to such matters, the taxpayer or obligated party shall
289	289	2 certify that he or she believes the same to be true, accurate,
290	290	3 and complete.
291	291	4 Subsections (c) through (i) of this Section shall also
292	292	5 apply in counties that have adopted by ordinance or resolution
293	293	6 the requirements of this Section.
294	294	7 (c) The chief county assessment officer of a county that
295	295	8 is subject to this Section shall establish rules that specify
296	296	9 the manner of submission of income and expense data and
297	297	10 provide for the administration of the provisions of this
298	298	11 Section in the county. Income and expense data shall be
299	299	12 submitted in electronic form unless waived by the chief county
300	300	13 assessment officer.
301	301	14 The chief county assessment officer shall maintain a copy
302	302	15 of its rules for public review and shall place a copy of those
303	303	16 rules and any amended rules on his or her website.
304	304	17 (d) If a taxpayer or obligated party fails to submit
305	305	18 income and expense data as required under this Section or as
306	306	19 required after the adoption of a county board ordinance or
307	307	20 resolution under this Section, within the time prescribed, or
308	308	21 within an extended period as permitted by the chief county
309	309	22 assessment officer, the assessor shall send notice by
310	310	23 certified mail to such taxpayer of the failure to comply. If
311	311	24 the taxpayer or obligated party fails to submit the required
312	312	25 data within 60 days after such notice is sent, fails to provide
313	313	26 documentation of another taxpayer's obligation to submit
314	314
315	315
316	316
317	317
318	318
319	319	HB1827 - 8 - LRB104 03520 HLH 13543 b
320	320
321	321
322	322	HB1827- 9 -LRB104 03520 HLH 13543 b HB1827 - 9 - LRB104 03520 HLH 13543 b
323	323	HB1827 - 9 - LRB104 03520 HLH 13543 b
324	324	1 income and expense data, or fails to adequately explain why no
325	325	2 submission is required, the taxpayer or obligated party shall
326	326	3 pay a penalty to the chief county assessment officer of 0.025%
327	327	4 of the prior year's market value as indicated by the most
328	328	5 recent certified assessed value for the property at issue, but
329	329	6 in no case shall the taxpayer or obligated party be required to
330	330	7 pay more than its proportional share of a maximum penalty of
331	331	8 $10,000 per property. A taxpayer or obligated party who fails
332	332	9 to submit income and expense data in accordance with this
333	333	10 provision shall only be required to pay a penalty on the
334	334	11 portion of the property's value for which the taxpayer or
335	335	12 obligated party is required to pay taxes.
336	336	13 A taxpayer or obligated party may contest the penalty and
337	337	14 requirement to report income and expense data in a particular
338	338	15 year and submit evidence to the chief county assessment
339	339	16 officer in support of a contention that the taxpayer or
340	340	17 obligated party was not required to submit income and expense
341	341	18 data, that another party was required to submit income and
342	342	19 expense data for such property, or that the submission of
343	343	20 income and expense data complies with this requirement based
344	344	21 on available documentation. The chief county assessment
345	345	22 officer shall review the taxpayer or obligated party's
346	346	23 submission and other submissions for the property for the tax
347	347	24 year at issue, and determine whether the taxpayer or obligated
348	348	25 party provided sufficient evidence that he or she was not
349	349	26 required to report income and expense data or that the
350	350
351	351
352	352
353	353
354	354
355	355	HB1827 - 9 - LRB104 03520 HLH 13543 b
356	356
357	357
358	358	HB1827- 10 -LRB104 03520 HLH 13543 b HB1827 - 10 - LRB104 03520 HLH 13543 b
359	359	HB1827 - 10 - LRB104 03520 HLH 13543 b
360	360	1 submission complies based on available documentation.
361	361	2 If a taxpayer or obligated party is dissatisfied with a
362	362	3 decision of the chief county assessment officer of the
363	363	4 requirement to submit income and expense data, the taxpayer or
364	364	5 obligated party may request review of that decision. Upon such
365	365	6 request, at least 30 days' notice shall be provided to the
366	366	7 taxpayer or obligated party of a hearing to be conducted by a
367	367	8 hearing officer designated by the chief county assessment
368	368	9 officer. If dissatisfied with a hearing officer's decision,
369	369	10 the taxpayer or obligated party may appeal such decision to
370	370	11 the circuit court of the county where the property is located
371	371	12 as a final administrative decision under the Administrative
372	372	13 Review Law. If a party is unsuccessful at the hearing, the
373	373	14 penalty imposed under this Section shall bear interest at
374	374	15 0.05% per month thereafter, beginning 21 days after the date
375	375	16 of decision, or 21 days after the date of the issuance of a
376	376	17 final decision on administrative review.
377	377	18 The State's Attorney of the county in which the property
378	378	19 is located shall have power to act on behalf of the People and
379	379	20 the chief county assessment officer to enforce the provisions
380	380	21 of this Section, including the power to compel by subpoena the
381	381	22 production of taxpayer income and expense data that is
382	382	23 required to be produced under this Section.
383	383	24 The chief county assessment officer may audit the income
384	384	25 and expense data submitted by taxpayers to verify its accuracy
385	385	26 by requesting documentation in support of submissions.
386	386
387	387
388	388
389	389
390	390
391	391	HB1827 - 10 - LRB104 03520 HLH 13543 b
392	392
393	393
394	394	HB1827- 11 -LRB104 03520 HLH 13543 b HB1827 - 11 - LRB104 03520 HLH 13543 b
395	395	HB1827 - 11 - LRB104 03520 HLH 13543 b
396	396	1 (e) Penalty and interest collected by the chief county
397	397	2 assessment officer under this Section for a taxpayer's or
398	398	3 obligated party's failure to timely submit income and expense
399	399	4 data shall be collected in the same manner as other fees
400	400	5 collected by the chief county assessment officer. Such revenue
401	401	6 shall be deposited with the county treasurer in the county
402	402	7 general fund of the county in which the property is located,
403	403	8 with 75% of the revenue to be used for the benefit of the
404	404	9 office of the chief county assessment officer and 25% to be
405	405	10 used for the benefit of the county.
406	406	11 (f) Any personal data such as federal identification or
407	407	12 social security numbers and income tax forms or data that are
408	408	13 included in income and expense data produced under this
409	409	14 Section shall be deemed private information and exempt from
410	410	15 disclosure under the Freedom of Information Act. Income and
411	411	16 expense data submitted pursuant to this Article shall not be
412	412	17 subject to disclosure by the chief county assessment officer
413	413	18 in accordance with the Freedom of Information Act and other
414	414	19 applicable law, or pursuant to court order in a tax or other
415	415	20 matter. Nothing in this Section prohibits a chief county
416	416	21 assessment officer from disclosing compiled and anonymized
417	417	22 income and expense data as provided in this Section.
418	418	23 (g) The income and expense data submitted pursuant to this
419	419	24 Section shall be processed and used as follows:
420	420	25 (1) Income and expense data in its original form in
421	421	26 which the taxpayer, obligated party and the property in
422	422
423	423
424	424
425	425
426	426
427	427	HB1827 - 11 - LRB104 03520 HLH 13543 b
428	428
429	429
430	430	HB1827- 12 -LRB104 03520 HLH 13543 b HB1827 - 12 - LRB104 03520 HLH 13543 b
431	431	HB1827 - 12 - LRB104 03520 HLH 13543 b
432	432	1 question is identified shall not be used for purposes of
433	433	2 assessing individual properties. The chief county
434	434	3 assessment officer shall compile and anonymize income and
435	435	4 expense data that is collected under this Division and
436	436	5 shall cause such information to be published annually.
437	437	6 Compiled and anonymized data may be used in the mass
438	438	7 appraisal or assessment of property.
439	439	8 The chief county assessment officer shall cause the
440	440	9 income and expense data to be compiled and anonymized in
441	441	10 accordance with statistical disclosure controls accepted
442	442	11 in the field that account for control of microdata and
443	443	12 quantitative and frequency tables in a manner that
444	444	13 considers individual property characteristics but prevents
445	445	14 the disclosure of individual property identity. Such
446	446	15 compilation and anonymization shall be performed by staff
447	447	16 who are not directly involved in the valuation of the type
448	448	17 of property for which the data has been submitted. The
449	449	18 chief county assessment officer shall publish the
450	450	19 procedures followed in compiling and anonymizing data.
451	451	20 (2) If a particular property is so unique in
452	452	21 characteristics, features, or location that the property
453	453	22 or its owner could be identified if the property's income
454	454	23 and expense data are included in compiled and anonymized
455	455	24 data that is made available to the public, township
456	456	25 assessors, or boards of review under this Section, the
457	457	26 income and expense data for that particular property shall
458	458
459	459
460	460
461	461
462	462
463	463	HB1827 - 12 - LRB104 03520 HLH 13543 b
464	464
465	465
466	466	HB1827- 13 -LRB104 03520 HLH 13543 b HB1827 - 13 - LRB104 03520 HLH 13543 b
467	467	HB1827 - 13 - LRB104 03520 HLH 13543 b
468	468	1 not be included in compiled and anonymized data.
469	469	2 (3) Notwithstanding any other provision of this
470	470	3 Section, the taxpayer or obligated party of any property
471	471	4 for which income and expense data has been submitted shall
472	472	5 have the right at all times to: (i) obtain a copy of such
473	473	6 income and expense data as submitted, in its original
474	474	7 form, from the chief county assessment officer; (ii) file
475	475	8 such income and expense data in any public forum; or (iii)
476	476	9 authorize such filing or publication of the income and
477	477	10 expense data in any other manner that the owner may
478	478	11 choose.
479	479	12 The chief county assessment officer shall establish
480	480	13 and maintain reasonable security measures consistent with
481	481	14 State and local law and the Federal Information Security
482	482	15 Management Act to protect income and expense data.
483	483	16 (h) All information received by the chief county
484	484	17 assessment officer from income and expense data filed under
485	485	18 this Article shall be used only for official purposes. Any
486	486	19 person who divulges income and expense data submitted under
487	487	20 this Article other than as permitted in this Article, in
488	488	21 accordance with a proper judicial order, or as otherwise
489	489	22 provided by law, shall be guilty of a Class B misdemeanor and
490	490	23 subject to a fine not to exceed $7,500.
491	491	24 (i) The chief county assessment officer shall prepare a
492	492	25 summary report within 60 days of the completion of the first
493	493	26 assessment cycle in which income expense data is compiled
494	494
495	495
496	496
497	497
498	498
499	499	HB1827 - 13 - LRB104 03520 HLH 13543 b
500	500
501	501
502	502	HB1827- 14 -LRB104 03520 HLH 13543 b HB1827 - 14 - LRB104 03520 HLH 13543 b
503	503	HB1827 - 14 - LRB104 03520 HLH 13543 b
504	504	1 under this Section and used in the assessment process, and
505	505	2 report findings to the Revenue committees of the Illinois
506	506	3 Senate and House of Representatives within 45 days thereafter.
507	507	4 The report shall document income and expense data collection,
508	508	5 changes in assessed or equalized assessed values that followed
509	509	6 the collection and use of compiled and anonymized income and
510	510	7 expense data for properties subject to reassessment, shall
511	511	8 compare reassessment year assessed or equalized assessed
512	512	9 values with values or equalized assessed values from the
513	513	10 immediately preceding reassessment cycle. The report shall
514	514	11 document any shifts in the percentage of commercial or
515	515	12 residential properties that comprise a portion of the total
516	516	13 assessed value or equalized assessed value of property within
517	517	14 the county. This report shall be produced annually following
518	518	15 the effective date of this amendatory Act of the 104th General
519	519	16 Assembly until all property located within a county subject to
520	520	17 this Section has been reassessed.
521	521
522	522
523	523
524	524
525	525
526	526	HB1827 - 14 - LRB104 03520 HLH 13543 b