95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB0798


 
Introduced 2/8/2007, by Sen. Don Harmon - Emil Jones, Jr.
 
SYNOPSIS AS INTRODUCED:
 		













35 ILCS 250/25









    Amends the Longtime Owner-Occupant Property Tax Relief Act.  Makes a
technical change in a Section concerning retroactive application of the Act.
















LRB095 05484 BDD 25574 b

















 


 


A BILL FOR









 











SB0798

LRB095 05484 BDD 25574 b






1
    AN ACT concerning revenue.

 
2
    Be it enacted by the People of the State of Illinois, 
3
represented in the General Assembly: 


 
4
    Section 5. The Longtime Owner-Occupant Property Tax Relief 
5
Act is amended by changing Section 25 as follows:
 



6
    (35 ILCS 250/25)



7
    Sec. 25. Retroactive application. The
The corporate 
8
authorities of a
county to which this Act applies may use any 
9
county record or other
information that predates the effective 
10
date of this Act by up to 5 years
for the purpose of 
11
determining whether an increase in the market value of a

12
longtime owner-occupant's principal residence is a consequence 
13
of the
refurbishing or renovating of other residences or the 
14
construction of new
residences in long-established residential 
15
areas or areas of deteriorated,
vacant, or abandoned homes and 
16
properties.
17
(Source: P.A. 88-451.)