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PROPOSED SUBSTITUTE TO ITEM 17-9977
PROPOSED ORDINANCE AMENDMENT
TAX INCENTIVE ORDINANCE
BE IT ORDAINED, by the Cook County Board of Commissioners, that Chapter 74 TAXATION, ARTICLE II REAL PROPERTY TAXATION, DIVISION 2. - CLASSIFICATION SYSTEM FOR ASSESSMENT, Section 74-75 of the Cook County Code is hereby amended as follows:
Sec. 74-75 - Incentive Classification Affidavit Requirement Waiver.
(a) This Section shall apply to existing incentives classifications, pending applications and eligibility/renewal applications submitted during the 2017 and 2018 assessment year. The Assessor’s Office shall liberally construe this Section to effectuate its intent as set forth in subsections (b) and (c) below.
(b) Compliance with the existing affidavit requirements of Sections 74-71(b)(2), 74-72 and 74-74 (b) and (d) shall be waived for the 2017 and 2018 assessment years. Such waiver shall be lifted at the beginning of the 2019 assessment year and the affidavit requirements of Sections 74-71, 74-72 and 74-74 that are then in effect shall be effective for the 2019 assessment year and subsequent assessment years.
(c) Existing incentives classifications, pending applications and eligibility/renewal applications submitted during the 2017 and 2018 assessment year shall not be suspended, revoked or terminated for failure to comply with the affidavit requirements of Sections 74-71(b)(2), 74-72 and 74-74(b) and (d), and all affidavits submitted pursuant to such Sections shall be considered void for any purpose.
Effective date: This ordinance amendment shall be in effect upon adoption.
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