Senator Jil Tracy (R-Quincy) and Assistant House Minority Leader Norine Hammond (R-Macomb) passed Illinois Farm Bureau-backed legislation to address a constituent issue related to spousal transfers of wooded acreage qualified under the “transition percentage” assessment program.
“This legislation clearly defines for County Assessors how the wooded acreage is to be addressed for tax purposes. This issue was brought to us by a constituent who was assessed at a higher rate by the Illinois Department of Revenue (IDOR) after transferring qualified acreage to a spouse. The bill allows a spousal transfer exception, which would prevent IDOR from going after other unknowing constituents in this manner,” said Rep. Norine Hammond.
“When wooded acreage is transferred from spouse to spouse, the couple should not be penalized with a higher property assessment,” said Sen. Jil Tracy. “The county should recognize that transferring property to one’s spouse is not equivalent to selling or transferring to an outside individual. I’m glad our constituent brought this issue of oversight in the law to our attention.”
Senate Bill 2274 passed the Illinois House on Tuesday and passed the Illinois Senate on April 11. It will now go the Governor for consideration.
“Senator Tracy and I are very attuned to issues brought forward by our constituents that may require legislative changes. We are confident that this legislation will help wooded acreage owners who may find themselves in a similar situation,” Hammond continued.XX The Illinois Farm Bureau supported Senate Bill 2274 and joined in seeking additional clarity on this policy issue.