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IL SB1433
Bill
Status
Introduced
1/31/2025
Primary Sponsor
Laura Murphy
Click for details
AI Summary
- Amends the Property Tax Code to change how railroad property is assessed for tax purposes
- Requires railroad property to be assessed based on the physical location of the property rather than as a single unit
- The Department of Revenue must still determine 33 1/3% of the fair cash value of railroad company property, making allowances for non-carrier real estate and personalty
- Assessment calculations continue to consider stock market value, bonds, indebtedness, net earnings over the preceding 5 years, and other relevant information
Legislative Description
PROP TX-RAILROAD
Last Action
Rule 2-10 Committee Deadline Established As April 24, 2026
3/13/2026
Committee Referrals
Assignments6/2/2025
Revenue2/11/2025
Assignments1/31/2025
Full Bill Text
No bill text available