IL HB1609

Property registered in perpetuity under the Illinois Natural Areas Preservation Act would be valued at $5 per acre for tax assessment purposes, with any structures on the land valued at 33 1/3% of fair cash value

Land encumbered by conservation rights would be valued at 3% of fair market value (reduced from the current 8-1/3%) in counties with 200,000 or fewer inhabitants

Conservation rights protecting habitat for any plant and animal species native to Illinois would qualify as providing "demonstrated public benefit" for tax purposes, expanding beyond the current requirement of only endangered, threatened, or candidate species

Land adjacent to parks, conservation areas, nature preserves, or other permanently protected areas would qualify for public benefit status if the conservation right furthers the conservation purposes of the adjacent protected area

Conservation rights may now allow buildings within designated "building envelopes" that don't interfere with protected land features, providing more flexibility than the previous restriction limiting only replacement structures