Illinois 2025-2026 Regular Session

Illinois Senate Bill SB1433 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 SB1433 Introduced 1/31/2025, by Sen. Laura M. Murphy SYNOPSIS AS INTRODUCED: 35 ILCS 200/11-80 Amends the Property Tax Code. Provides that railroad property shall be assessed based on the location of the property (rather than as a unit). LRB104 07673 HLH 17717 b A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB1433 Introduced 1/31/2025, by Sen. Laura M. Murphy SYNOPSIS AS INTRODUCED: 35 ILCS 200/11-80 35 ILCS 200/11-80 Amends the Property Tax Code. Provides that railroad property shall be assessed based on the location of the property (rather than as a unit). LRB104 07673 HLH 17717 b LRB104 07673 HLH 17717 b A BILL FOR
2	2	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB1433 Introduced 1/31/2025, by Sen. Laura M. Murphy SYNOPSIS AS INTRODUCED:
3	3	35 ILCS 200/11-80 35 ILCS 200/11-80
4	4	35 ILCS 200/11-80
5	5	Amends the Property Tax Code. Provides that railroad property shall be assessed based on the location of the property (rather than as a unit).
6	6	LRB104 07673 HLH 17717 b LRB104 07673 HLH 17717 b
7	7	LRB104 07673 HLH 17717 b
8	8	A BILL FOR
9	9	SB1433LRB104 07673 HLH 17717 b SB1433 LRB104 07673 HLH 17717 b
10	10	SB1433 LRB104 07673 HLH 17717 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 changing
15	15	5 Section 11-80 as follows:
16	16	6 (35 ILCS 200/11-80)
17	17	7 Sec. 11-80. Assessment procedure for railroad companies.
18	18	8 In assessing the taxable property of any railroad company, the
19	19	9 Department shall first determine 33 1/3% of the fair cash
20	20	10 value of all the property of any railroad company based on the
21	21	11 location of the property as a unit, but shall make due
22	22	12 allowance for any non-carrier real estate and all personalty.
23	23	13 The Department shall take into consideration the actual or
24	24	14 market value of the shares of stock outstanding, the actual or
25	25	15 market value of all bonds outstanding and all other
26	26	16 indebtedness as is applicable, for operating the road. In
27	27	17 determining the market value of the stock or indebtedness the
28	28	18 Department shall consider quotations for the 5 years preceding
29	29	19 the assessment date; the net earnings of the company during
30	30	20 the 5 calendar years preceding the assessment date; and such
31	31	21 other information as the Department may consider as bearing on
32	32	22 the fair cash value of the property. The valuation by the
33	33	23 Department shall include capital stock and all other property
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37	37	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB1433 Introduced 1/31/2025, by Sen. Laura M. Murphy SYNOPSIS AS INTRODUCED:
38	38	35 ILCS 200/11-80 35 ILCS 200/11-80
39	39	35 ILCS 200/11-80
40	40	Amends the Property Tax Code. Provides that railroad property shall be assessed based on the location of the property (rather than as a unit).
41	41	LRB104 07673 HLH 17717 b LRB104 07673 HLH 17717 b
42	42	LRB104 07673 HLH 17717 b
43	43	A BILL FOR
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