Introduced by Sen. Kirk Pearson (Monroe) (R) on January 15, 2014, For Bill Information, please click HERE.
Referred to the Senate Trade & Economic Development Committee on January 15, 2014.
Substitute offered in the Senate on February 4, 2014, reduces the population threshold for a city to
qualify for the property tax exemption program from at least 50,000 to at least 25,000.
Moves back the date for cities to have designated land zoned as industrial or manufacturing
from January 1, 2012, to December 31, 2012. Modifies the definition of targeted area to
include lands located within or contiguous to an innovation partnership zone, foreign trade
zone, or EB-5 regional center. Excludes counties from the exemption unless the governing
body adopts a resolution authorizing property to be exempt from county property taxes.
Referred to the Senate Ways & Means Committee on February 4, 2014.
Substitute offered in the Senate on February 11, 2014, provides property tax exemptions to encourage new
manufacturing and industrial uses on undeveloped or
underutilized lands zoned for industrial and manufacturing
uses in targeted urban areas.
Referred to the Senate Rules Committee on February 13, 2014.