A bill which would have dramatically altered how Cook County assesses commercial properties has been placed on hold in the waning hours of the Illinois General Assembly’s spring session.
The measure, which was backed by Cook County Assessor Fritz Kaegi, had passed the Senate in early April with the acknowledgement that negotiations would continue with the various stakeholders in the House. While meetings were convened, no agreement was reached on the bill.
Now the bill has been sidelined as lawmakers finish out the final hours of the session, according to the Chicago Tribune. It remains in the House Rules Committee.
The Cook County Assessor’s Office was informed by House leadership that SB 1379, the Data Modernization Bill, would not move out of the Rules Committee for a vote during the current legislative session, according to a statement on the Assessor’s Office website.
Illinois REALTORS® had questioned elements of the bill, which sought financial information related to the income and expenses from those owning many types of income-producing property. The association had expressed concerns over the impact of this legislation on the Cook County property tax system and in other counties that chose to opt-in to the provisions.
The bill may be on hiatus for this session, but it is likely to be reintroduced in the 2020 spring session.
“We’ll be back next session to get it passed,” Kaegi said in a release.
The broad coalition of groups opposed to the measure, including the Illinois REALTORS®, urged a thorough review of the outcome of the ongoing reassessment of the North Triad in Cook County. Further, the association supports continued discussions with a larger stakeholder group