IL SB3918

Amends the Property Tax Code to allow any taxing district to order the county clerk to abate all or a portion of taxes levied on qualified tool and die business property, effective in taxable year 2012.

Defines "qualified tool and die business" as a business with a North American Industrial Classification System (NAICS) classification of 332997, 333511, 333512, 333513, 333514, or 333515 and fewer than 75 full-time employees.

Defines "qualified tool and die business property" as property owned or leased by a qualified tool and die business and used primarily for tool and die operations, with 75% or more of gross revenue generated from tool and die operations on the property during the taxable year.

Takes effect immediately upon becoming law.