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| | 103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
SB0319 Introduced 2/2/2023, by Sen. Laura M. Murphy SYNOPSIS AS INTRODUCED:
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| 35 ILCS 200/18-184.25 new | |
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Amends the Property Tax Code. Provides that the county clerk shall abate 10% of the taxes imposed on qualified forest property that is part of a proposed new housing development. Provides that the owner of the property shall obtain approval from the Department of Natural Resources and shall submit a conservation plan and a new housing development plan to the Department of Natural Resources. Provides that "qualified forest property" means land of at least one acre that: (i) is at least 10% stocked by forest trees of any size; (ii) includes forest strips that are at least 120 feet wide; (iii) is managed in accordance with a conservation plan approved by the Department of Natural Resources; and (iv) is not developed for non-forest use as of January 1 of the first taxable year of the abatement. Effective immediately.
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| | A BILL FOR |
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| | SB0319 | | LRB103 25944 HLH 52295 b |
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| 1 | | AN ACT concerning revenue.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Property Tax Code is amended by adding |
| 5 | | Section 18-184.25 as follows:
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| 6 | | (35 ILCS 200/18-184.25 new) |
| 7 | | Sec. 18-184.25. Qualified forest property abatement for |
| 8 | | new housing developments. |
| 9 | | (a) Notwithstanding any other provision of law, the county |
| 10 | | clerk shall abate 10% of the taxes imposed on qualified forest |
| 11 | | property that is part of a proposed new housing development. |
| 12 | | To qualify for the abatement, the owner of the property shall |
| 13 | | obtain approval from the Department of Natural Resources. The |
| 14 | | application for approval shall include a conservation plan |
| 15 | | prepared by an arborist for the property as well as a new |
| 16 | | housing development plan, both submitted by the owner of the |
| 17 | | property. Upon approval by the Department of Natural |
| 18 | | Resources, the abatement shall continue as long as the |
| 19 | | property meets the criteria for qualified forest property set |
| 20 | | forth in this Section. |
| 21 | | (b) As used in this Section: |
| 22 | | "New housing development plan" means a proposed |
| 23 | | development plan with structures that will be used as a home or |