Bill > SB2356

This bill amends the Illinois Property Tax Code to establish a new Division 5 on regional wastewater facilities. The key provisions are: 1. It defines "qualifying wastewater facilities" as those owned by non-profit corporations that provide wastewater services to member municipalities, municipal agencies, sewer commissions, sanitary districts, or rural wastewater companies on a mutual or cooperative basis. 2. It specifies that qualifying wastewater facilities shall be valued at 33 1/3% of their fair cash value for property tax assessment purposes, taking into account the probable net value if the facility were removed and sold. 3. It excludes for-profit wastewater facilities from this treatment and requires qualifying facilities to provide proof of a valid facility number from the Illinois Environmental Protection Agency. 4. It outlines the application and assessment procedures, allowing for judicial review of the Department of Revenue's decisions on qualifying status. 5. It authorizes the Department to adopt rules for implementing this new Division on regional wastewater facilities.

Budget and Finance

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2356&GAID=17&DocTypeID=SB&SessionID=112&GA=103