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<xml>
<title>Illinois General Assembly - Bill Status for SB 2540         </title>
<shortdesc>PROPERTY TAX-FOREST LAND-VALUE</shortdesc>
<sponsor>
<sponsorhead1>Senate Sponsors</sponsorhead1><sponsors>Sen. Don Harmon</sponsors>
</sponsor>
<lastaction>
<statusdate>1/10/2023</statusdate><chamber>Senate</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>35 ILCS 200/10-150</reference><aliasreference></aliasreference><SynopsisText>Amends the Property Tax Code. Provides that, in counties with less than 3,000,000 inhabitants, property under a forestry management plan shall be valued at 1/18 (currently, 1/6) of its productivity index equalized assessed value as cropland. Effective January 1, 2022.</SynopsisText></synopsis>
<actions>
<statusdate>2/26/2021</statusdate><chamber>Senate</chamber><action>Filed with Secretary by Sen. Melinda Bush</action>
<statusdate>2/26/2021</statusdate><chamber>Senate</chamber><action>First Reading</action>
<statusdate>2/26/2021</statusdate><chamber>Senate</chamber><action>Referred to Assignments</action>
<statusdate>3/23/2021</statusdate><chamber>Senate</chamber><action>Assigned to Revenue</action>
<statusdate>4/16/2021</statusdate><chamber>Senate</chamber><action>Rule 3-9(a) / Re-referred to Assignments</action>
<statusdate>12/31/2022</statusdate><chamber>Senate</chamber><action>Chief Sponsor Changed to Sen. Don Harmon</action>
<statusdate>1/10/2023</statusdate><chamber>Senate</chamber><action>Session Sine Die</action>
</actions>
</xml>

