IL SB1248

County clerk shall abate 10% of taxes on qualified forest property that is part of a proposed new housing development.

Property owner must obtain Department of Natural Resources approval and submit both a conservation plan (prepared by an arborist) and a new housing development plan.

"Qualified forest property" must be at least one acre with at least 10% forest tree stocking, forest strips at least 120 feet wide, and managed under an approved conservation plan.

Property must not be developed for non-forest use as of January 1 of the first taxable year of the abatement; abatement continues as long as property meets qualified criteria.

Act takes effect immediately upon becoming law.