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92_HB1264enr
HB1264 Enrolled LRB9203266SMdv
1 AN ACT regarding taxes.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Property Tax Code is amended by changing
5 Section 10-355 and adding Section 10-360 as follows:
6 (35 ILCS 200/10-355)
7 Sec. 10-355. Fraternal organization assessment freeze.
8 (a) For the taxable year 2002 and thereafter, the
9 assessed value of real property owned and used by a fraternal
10 organization that on December 31, 1926 had its national
11 headquarters in Illinois or that was chartered in Illinois in
12 July 1896 February 1898, or its subordinate organization or
13 entity, that is exempt under Section 501(c)(8) of the
14 Internal Revenue Code and whose members provide, directly or
15 indirectly, financial support for charitable works, which may
16 include medical care, drug rehabilitation, or education,
17 shall be established by the chief county assessment officer
18 as follows:
19 (1) if the property meets the qualifications set
20 forth in this Section on January 1, 2002 and on January 1
21 of each subsequent assessment year, for assessment year
22 2002 and each subsequent assessment year, the final
23 assessed value of the property shall be 15% of the final
24 assessed value of the property for the assessment year
25 2001; or
26 (2) if the property first meets the qualifications
27 set forth in this Section on January 1 of any assessment
28 year after assessment year 2002 and on January 1 of each
29 subsequent assessment year, for that first assessment
30 year and each subsequent assessment year, the final
31 assessed value shall be 15% of the final assessed value
HB1264 Enrolled -2- LRB9203266SMdv
1 of the property for the assessment year in which the
2 property first meets the qualifications set forth in this
3 Section.
4 If, in any year, additions or improvements are made to
5 property subject to assessment under this Section and the
6 additions or improvements would increase the assessed value
7 of the property, then 15% of the final assessed value of the
8 additions or improvements shall be added to the final
9 assessed value of the property for the year in which the
10 additions or improvements are completed and for all
11 subsequent years that the property is eligible for assessment
12 under this Section.
13 (b) For purposes of this Section, "final assessed value"
14 means the assessed value after final board of review action.
15 (c) Fraternal organizations whose property is assessed
16 under this Section must annually submit an application to the
17 chief county assessment officer on or before (i) January 31
18 of the assessment year in counties with a population of
19 3,000,000 or more and (ii) December 31 of the assessment year
20 in all other counties. The initial application must contain
21 the information required by the Department of Revenue, which
22 shall prepare the form, including:
23 (1) a copy of the organization's charter from the
24 State of Illinois, if applicable;
25 (2) the location or legal description of the
26 property on which is located the principal building for
27 the organization, including the PIN number, if available;
28 (3) a written instrument evidencing that the
29 organization is the record owner or has a legal or
30 equitable interest in the property;
31 (4) an affidavit that the organization is liable
32 for paying the real property taxes on the property; and
33 (5) the signature of the organization's chief
34 presiding officer.
HB1264 Enrolled -3- LRB9203266SMdv
1 Subsequent applications shall include any changes in the
2 initial application and shall affirm the ownership, use, and
3 liability for taxes for the year in which it is submitted.
4 All applications shall be notarized.
5 (d) This Section does not apply to parcels exempt from
6 property taxes under this Code.
7 (Source: P.A. 92-388, eff. 1-1-02.)
8 (35 ILCS 200/10-360 new)
9 Sec. 10-360. Fraternal organization assessment freeze.
10 (a) For the taxable year 2003 and thereafter, the
11 assessed value of real property owned and used by a fraternal
12 organization or its affiliated Illinois not for profit
13 corporation chartered prior to 1920 that is an exempt entity
14 under Section 501(c)(2), 501(c)(8) or 501(c)(10) of the
15 Internal Revenue Code and whose members provide, directly or
16 indirectly, financial support for charitable works, which may
17 include medical care, drug rehabilitation, or education,
18 shall be established by the chief county assessment officer
19 as follows:
20 (1) if the property meets the qualifications set
21 forth in this Section on January 1, 2003 and on January 1
22 of each subsequent assessment year, for assessment year
23 2003 and each subsequent assessment year, the final
24 assessed value of the property shall be 15% of the final
25 assessed value of the property for the assessment year
26 2002; or
27 (2) if the property first meets the qualifications
28 set forth in this Section on January 1 of any assessment
29 year after assessment year 2003 and on January 1 of each
30 subsequent assessment year, for that first assessment
31 year and each subsequent assessment year, the final
32 assessed value shall be 15% of the final assessed value
33 of the property for the assessment year in which the
HB1264 Enrolled -4- LRB9203266SMdv
1 property first meets the qualifications set forth in this
2 Section.
3 If, in any year, additions or improvements are made to
4 property subject to assessment under this Section and the
5 additions or improvements would increase the assessed value
6 of the property, then 15% of the final assessed value of the
7 additions or improvements shall be added to the final
8 assessed value of the property for the year in which the
9 additions or improvements are completed and for all
10 subsequent years that the property is eligible for assessment
11 under this Section.
12 (b) For purposes of this Section, "final assessed value"
13 means the assessed value after final board of review action.
14 (c) Fraternal organizations or their affiliated not for
15 profit corporations whose property is assessed under this
16 Section must annually submit an application to the chief
17 county assessment officer on or before (i) January 31 of the
18 assessment year in counties with a population of 3,000,000 or
19 more and (ii) December 31 of the assessment year in all other
20 counties. The initial application must contain the
21 information required by the Department of Revenue, which
22 shall prepare the form, including:
23 (1) the location or legal description of the
24 property on which is located the principal building for
25 the organization, including the PIN number, if available;
26 (2) a written instrument evidencing that the
27 organization or not for profit corporation is the record
28 owner or has a legal or equitable interest in the
29 property;
30 (3) an affidavit that the organization or not for
31 profit corporation is liable for paying the real property
32 taxes on the property; and
33 (4) the signature of the organization's or not for
34 profit corporation's chief presiding officer.
HB1264 Enrolled -5- LRB9203266SMdv
1 Subsequent applications shall include any changes in the
2 initial application and shall affirm the ownership, use, and
3 liability for taxes for the year in which it is submitted.
4 All applications shall be notarized.
5 (d) This Section does not apply to parcels exempt from
6 property taxes under this Code.
7 Section 99. Effective date. This Act takes effect upon
8 becoming law.
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