SB0458sam001 96TH GENERAL ASSEMBLY

Sen. David Koehler

Filed: 11/16/2010

09600SB0458sam001 LRB096 06514 HLH 43938 a

AMENDMENT TO SENATE BILL 458

AMENDMENT NO. ______. Amend Senate Bill 458 by replacing everything after the enacting clause with the following:

"Section 5. The Property Tax Code is amended by adding Section 16-181 as follows:

(35 ILCS 200/16-181 new)

Sec. 16-181. Stipulation to revised assessment. The board of review whose decision is being appealed may, at its discretion, enter into discussions with an appellant aimed at achieving a stipulated revised assessment upon the property, either prior to or after receipt of the appellant's completed petition from the Property Tax Appeal Board. If such discussions commence prior to the board of review's receipt of the appellant's completed petition from the Property Tax Appeal Board, the appellant shall provide the board of review with such evidence of the appellant's timely filing of its appeal before the Property Tax Appeal Board as the board of review may request, including but not limited to a copy of the appellant's petition as filed with the Property Tax Appeal Board. If, after discussions have been entered into, the appellant and the board of review propose to stipulate to a revised assessment of the property, and if the original complaint requested a reduction in value of more than $100,000, then the board of review shall first serve a copy of the proposed stipulation or assessment agreement on all taxing districts as shown on the last available property tax bill, along with a copy of the appellant's petition as provided to the board of review and all other evidence used to reach the settlement. The taxing districts so served shall have a period of 45 days after the postmark date of the notice from the board of review to file a written objection to the proposal with the board of review. Failure of a taxing district to object to the proposed assessment within the 45-day objection period shall be considered acceptance of the proposed assessment. Upon the later of (i) the expiration of the 45-day objection period or (ii) written resolution of any timely filed written objection received from a taxing district, the board of review shall provide the proposed stipulation or assessment agreement to the Property Tax Appeal Board along with a certificate of service affirming that all taxing districts have been notified of the proposed stipulation or assessment agreement, and that no timely written objections to the stipulation or assessment agreement have been received or that any such objections have been fully resolved. The certificate of service shall be signed by a member of the board of review or the clerk of the board of review. Within 160 days after the Property Tax Appeal Board's receipt of the stipulation or assessment agreement and certificate of service, the Property Tax Appeal Board shall issue a decision in accordance with the stipulation or assessment agreement, unless it finds the stipulation or assessment agreement to be against the manifest weight of the evidence. Any discussion of a proposed settlement may not be used as evidence in any hearing with respect to that assessment year and that property.

Section 99. Effective date. This Act takes effect upon becoming law.".