PROP TX-TORNADO DISASTER House SponsorsRep. Chad Hays 12/3/2014HouseSession Sine Die 35 ILCS 200/10-700 Amends the Property Tax Code. In a Section concerning the valuation of commercial or industrial property that has been rebuilt following a tornado disaster, provides for a partial reduction in equalized assessed value if the square footage of the rebuilt structure exceeds 110% of the square footage of the original structure (currently, property is not entitled to a reduction if the square footage of the rebuilt structure exceeds 110% of the square footage of the original structure). Effective immediately. 11/12/2014HouseFiled with the Clerk by Rep. Chad Hays 11/18/2014HouseFirst Reading 11/18/2014HouseReferred to Rules Committee 12/3/2014HouseSession Sine Die