Illinois 93rd Regular Session Status: Passed Senate

SB 3129 — PROP TAX-LOW INCOME HOUSING

Last action — Session Sine Die

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 93rd Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Amends the Property Tax Code. Restores special valuation procedures for low-income housing developed under Section 515 of the federal Housing Act as they existed prior to January 1, 2004 (the effective date of Public Act 93-533). Effective immediately.

Bill Text

What changed in the latest version

3 added · 19 removed

Plain-language change summary

The recent amendments to Bill SB 3129 have removed several outdated references and streamlined the language regarding property tax valuation procedures. Specifically, the bill aims to restore special valuation processes to how they were before January 1, 2004. This change is important because it seeks to maintain consistency in property tax assessments, potentially benefiting property owners by ensuring they are taxed fairly based on established practices.

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SB3129 *LRB09321128SJM47182b* 93RD GENERAL ASSEMBLY State of Illinois and 2004 Introduced 2/6/2004, by Frank C.
SB3129 Engrossed LRB093 21128 SJM 47182 b AN ACT concerning taxes.
Watson SYNOPSIS AS INTRODUCED:
ILCS 200/10-235 ILCS 200/10-245 ILCS 200/10-250 Amends the Property Tax Code.
Restores special valuation procedures Act as they existed prior to January 1, 2004 (the effective date of Public Act 93-533).
Effective immediately.
LRB093 21128 SJM 47182 b FISCAL NOTE ACT MAY APPLY A BILL FOR SB3129 LRB093 21128 SJM 47182 b AN ACT concerning taxes.
Notwithstanding Section 1-55 and except in counties with a population of more than 200,000 that classify property for the purposes of taxation, to determine 33 and one-third percent of the fair cash value of any low-income housing project developed under the Section 515 program or that qualifies for the low-income housing tax credit under Section SB3129 - 2 - LRB093 21128 SJM 47182 b 42 of the Internal Revenue Code, in assessing the project, local assessment officers must consider the actual or probable net operating income attributable to the project, using a vacancy rate of not more than 5%, capitalized at normal market rates.
Notwithstanding Section 1-55 and except in counties with a population of more than 200,000 that classify property for the purposes of taxation, to determine 33 and one-third percent of the fair cash value of any low-income housing project developed under the Section 515 program or that qualifies for the low-income housing tax credit under Section SB3129 Engrossed - 2 - LRB093 21128 SJM 47182 b 42 of the Internal Revenue Code, in assessing the project, local assessment officers must consider the actual or probable net operating income attributable to the project, using a vacancy rate of not more than 5%, capitalized at normal market rates.
SB3129 - 3 - LRB093 21128 SJM 47182 b (Source:
SB3129 Engrossed - 3 - LRB093 21128 SJM 47182 b (Source:
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Action History

  1. Session Sine Die

  2. Added as Co-Sponsor Sen. Jacqueline Y. Collins

  3. Referred to Rules Committee

  4. First Reading

  5. Chief House Sponsor Rep. Barbara Flynn Currie

  6. Placed on Calendar Order of First Reading

  7. Arrived in House

  8. Third Reading - Passed; 057-000-000

  9. Added as Co-Sponsor Sen. Barack Obama

  10. Added as Co-Sponsor Sen. Todd Sieben

  11. Placed on Calendar Order of 3rd Reading March 25, 2004

  12. Second Reading

  13. Added as Chief Co-Sponsor Sen. Bill Brady

  14. Added as Co-Sponsor Sen. Larry K. Bomke

  15. Added as Co-Sponsor Sen. Dan Rutherford

  16. Added as Co-Sponsor Sen. William E. Peterson

  17. Placed on Calendar Order of 2nd Reading March 2, 2004

  18. Do Pass Revenue; 010-000-000

  19. Assigned to Revenue

  20. Referred to Rules

  21. First Reading

  22. Filed with Secretary by Sen. Frank C. Watson

Sponsors

  • Frank C. Watson · Cosponsor

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 182 not signed on

Sponsors (0)

None.

Co-sponsors (1)

  • Frank C. Watson

Not signed on (182)

182 members have not signed on to this bill.

Show all 182 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Third Reading

Passed 57 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Unaffiliated 50001
Democrat 7000
Republican 0001
Total 57002
% of votes cast 97%0%0%3%
How each member voted (59)
Member Party Vote
Sandoval — Yea
Sieben — Yea
Silverstein — Yea
Soden — Yea
Luechtefeld — Yea
Althoff — Yea
Martinez — Yea
Bomke — Yea
Burzynski — Yea
Meeks — Yea
Garrett — Yea
Geo-Karis — Yea
Halvorson — Yea
Lauzen — Yea
Link — Yea
Maloney — Yea
Munoz — Yea
Obama — Yea
Brady — Yea
Sullivan, D. — Yea
Sullivan, J. — Yea
Petka — Yea
Schoenberg — Yea
Shadid — Yea
Jacobs — Yea
Jones, J. — Yea
Jones, W. — Yea
Cullerton — Yea
Watson — Yea
Trotter — Yea
Viverito — Yea
Winkel — Yea
Demuzio — Not Voting
Wojcik — Yea
Clayborne — Yea
Cronin — Yea
Crotty — Yea
DeLeo — Yea
Dillard — Yea
Forby — Yea
Haine — Yea
Hendon — Yea
Peterson — Yea
Radogno — Yea
Rauschenberger — Yea
Righter — Yea
Risinger — Yea
Ronen — Yea
Roskam — Yea
Rutherford — Yea
del Valle — Yea
Don Harmon Democrat Yea
Emanuel "Chris" Welch Democrat Yea
Emil Jones, III Democrat Yea
Kimberly A. Lightford Democrat Yea
Lakesia Collins Democrat Yea
Lawrence "Larry" Walsh, Jr. Democrat Yea
Mattie Hunter Democrat Yea
Dave Syverson Republican Not Voting

Official roll call →

Subjects

taxation housing
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 3129 do?
Amends the Property Tax Code. Restores special valuation procedures for low-income housing developed under Section 515 of the federal Housing Act as they existed prior to January 1, 2004 (the effective date of Public Act 93-533). Effective immediately.
Who sponsors SB 3129?
SB 3129 is sponsored by Frank C. Watson.
What is the current status of SB 3129?
This bill died with 93rd Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 3129?
Track SB 3129 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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