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Revenue Committee
Filed: 2/16/2006
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09400HB4175ham001 |
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LRB094 14779 BDD 55650 a |
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| AMENDMENT TO HOUSE BILL 4175
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| AMENDMENT NO. ______. Amend House Bill 4175 by replacing |
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| everything after the enacting clause with the following:
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| "Section 5. The Property Tax Code is amended by adding |
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| Section 10-148 as follows:
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| (35 ILCS 200/10-148 new) |
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| Sec. 10-148. Assessment of wooded land. |
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| (a) If, during the 2005 taxable year, any parcel of wooded |
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| land was valued based upon its productivity index equalized |
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| assessed value as cropland, then the Department of Revenue must |
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| accept any similar valuation of that wooded land for the 2006 |
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| and 2007 taxable years. |
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| (b) For the purpose of this Section, "wooded land" means
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| any parcel of unimproved real property that: (i) does not
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| qualify as cropland, permanent pasture, other farmland, or
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| wasteland under Section 10-125 of the Property Tax Code; and |
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| (ii) is not managed under a
forestry management plan and |
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| considered to be other farmland
under Section 10-150 of the |
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| Property Tax Code.
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| Section 99. Effective date. This Act takes effect upon |
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| becoming law.".
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