PROP TX-SOUTHLAND PROPERTY Senate SponsorsSen. Elgie R. Sims, Jr.-Napoleon Harris, III, Bill Cunningham and Patrick J. Joyce 1/10/2023SenateSession Sine Die 35 ILCS 200/Art. 10 Div. 21 heading new35 ILCS 200/10-800 newAmends the Property Tax Code. Provides that certain property located in Bloom, Bremen, Calumet, Rich, Thornton, or Worth Township may be certified by the South Suburban Land Bank and Development Authority, the Cook County Land Bank Development Authority, or both collectively, as a southland reactivation site. Sets forth valuation procedures for southland reactivation property. Provides that, for the first 3 tax years after the property is certified as southland reactivation property, the aggregate tax liability for the property shall be no greater than $100,000 per year. Provides that, beginning with the fourth tax year after the property is certified as southland reactivation property and continuing through the twelfth tax year after the property is certified as southland reactivation property, the property's tax liability shall be increased over the tax liability for the preceding year by 5% or the percentage change in the Consumer Price Index, whichever is less. Effective immediately. 2/26/2021SenateFiled with Secretary by Sen. Elgie R. Sims, Jr. 2/26/2021SenateFirst Reading 2/26/2021SenateReferred to Assignments 3/16/2021SenateAssigned to Revenue 4/6/2021SenateAdded as Chief Co-Sponsor Sen. Napoleon Harris, III 4/13/2021SenateAdded as Co-Sponsor Sen. Bill Cunningham 4/16/2021SenateRule 3-9(a) / Re-referred to Assignments 4/20/2021SenateAdded as Co-Sponsor Sen. Patrick J. Joyce 1/10/2023SenateSession Sine Die