PROP TX-FARMLAND VALUATION House SponsorsRep. Kurt M. Granberg-Jack D. Franks-Brandon W. Phelps-Dan Reitz, Daniel V. Beiser, Mike Boland, John E. Bradley, Robert F. Flider, Gary Hannig, Jay C. Hoffman, Thomas Holbrook, Charles E. Jefferson, Jack McGuire, David R. Leitch, Aaron Schock, Rich Brauer and David Reis 1/9/2007HouseSession Sine Die 35 ILCS 200/15-148 new Amends the Property Tax Code. Provides that, beginning with the 2005 assessment year, qualified timberland shall be assessed at 33 1/3% of the lesser of: (i) its value; or (ii) $500 per acre. Defines "qualified timberland" as any parcel of unimproved real property that is timberland and that: (1) does not qualify as cropland, permanent pasture, other farmland, or wasteland; and (2) is not managed under a forestry management plan so as to be considered as "other farmland". Effective immediately.House Amendment No. 1 Deletes reference to:35 ILCS 200/15-148 newAdds reference to:35 ILCS 200/10-148 newDeletes everything after the enacting clause. Amends the Property Tax Code. Provides that if, during the 2005 taxable year, certain wooded land was valued based upon its productivity index equalized assessed value as cropland, then the Department of Revenue must accept any similar valuation of that wooded land for the 2006 and 2007 taxable years. Effective immediately.Housing Affordability Impact Note (H-AM 1)(Housing Development Authority) The future use of or possible residential improvements to any qualifying property is unknown at this time.Fiscal Note (H-AM 1)(Department of Revenue) HB 4175 (H-AM 1) will not have a direct impact on State revenues, nor will it have a significant fiscal impact on the Illinois Department of Revenue. 11/2/2005HouseFiled with the Clerk by Rep. Kurt M. Granberg 11/2/2005HouseFirst Reading 11/2/2005HouseReferred to Rules Committee 1/4/2006HouseAdded Chief Co-Sponsor Rep. Jack D. Franks 1/11/2006HouseAssigned to Revenue Committee 1/26/2006HouseAdded Chief Co-Sponsor Rep. Brandon W. Phelps 1/26/2006HouseAdded Chief Co-Sponsor Rep. Frank J. Mautino 1/26/2006HouseAdded Chief Co-Sponsor Rep. Dan Reitz 1/26/2006HouseAdded Co-Sponsor Rep. Daniel V. Beiser 1/26/2006HouseAdded Co-Sponsor Rep. Mike Boland 1/26/2006HouseAdded Co-Sponsor Rep. John E. Bradley 1/26/2006HouseAdded Co-Sponsor Rep. Robert F. Flider 1/26/2006HouseAdded Co-Sponsor Rep. Gary Hannig 1/26/2006HouseAdded Co-Sponsor Rep. Jay C. Hoffman 1/26/2006HouseAdded Co-Sponsor Rep. Thomas Holbrook 1/26/2006HouseAdded Co-Sponsor Rep. Charles E. Jefferson 1/26/2006HouseAdded Co-Sponsor Rep. Jack McGuire 1/26/2006HouseAdded Co-Sponsor Rep. Patrick J Verschoore 2/1/2006HouseAdded Co-Sponsor Rep. David R. Leitch 2/1/2006HouseAdded Co-Sponsor Rep. Aaron Schock 2/8/2006HouseAdded Co-Sponsor Rep. Rich Brauer 2/9/2006HouseRemove Chief Co-Sponsor Rep. Frank J. Mautino 2/16/2006HouseHouse Amendment No. 1 Filed with Clerk by Revenue Committee 2/16/2006HouseHouse Amendment No. 1 Adopted in Revenue Committee; by Voice Vote 2/16/2006HouseDo Pass as Amended / Short Debate Revenue Committee; 012-000-000 2/16/2006HousePlaced on Calendar 2nd Reading - Short Debate 2/16/2006HouseRemoved Co-Sponsor Rep. Patrick J Verschoore 2/21/2006HouseHousing Affordability Impact Note Filed As Amended by HA 1 2/22/2006HouseAdded Co-Sponsor Rep. David Reis 2/23/2006HouseFiscal Note Filed As Amended by HA 1 2/28/2006HouseSecond Reading - Short Debate 2/28/2006HouseHeld on Calendar Order of Second Reading - Short Debate 3/3/2006HouseRule 19(a) / Re-referred to Rules Committee 1/9/2007HouseSession Sine Die