IL HB3445

Expands the definition of "pollution control facilities" to include any system, method, construction, device, or equipment designed to comply with federal or state requirements to eliminate, prevent, or reduce air or water pollution.

Removes the requirement that the Department consider actual or probable net earnings attributable to pollution control facilities when determining 33 1/3% of fair cash value for assessment purposes.

Establishes the effective date of a pollution control facility certificate as January 1 of the year in which the certificate is issued, replacing the previous standard based on the application date or facility construction date.