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IL HB2241

Bill

Official Source

Status

Introduced

2/7/2019

Primary Sponsor

Robert Martwick

Click for details

Origin

House of Representatives

101st General Assembly

AI Summary

  • Creates a $1,000 annual homestead property tax exemption for homestead properties on which a stormwater retention basin is constructed during the taxable year, beginning with the 2020 taxable year
  • Defines "stormwater retention basin" as an impoundment created by a dam or excavation designed to store water and settle sediment and pollutants from surface runoff until water can evaporate or infiltrate
  • Applies the exemption through a reduction in equalized assessed value for eligible homestead property as defined in Section 15-175 of the Property Tax Code
  • Takes effect immediately upon becoming law
  • Amends 35 ILCS 200 by adding Section 15-190

Legislative Description

PROP TX- RETENTION BASIN

Last Action

Rule 19(a) / Re-referred to Rules Committee

3/29/2019

Committee Referrals

Rules3/29/2019
Property Tax2/28/2019
Revenue & Finance2/19/2019
Rules2/7/2019

Full Bill Text

No bill text available