Illinois SB 3938: $FY21 EIU OCE

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
SB3938

Introduced 2/6/2026, by Sen. Chris Balkema 

SYNOPSIS AS INTRODUCED:

35 ILCS 200/Art. 31.1 heading new

35 ILCS 200/31.1-1 new

35 ILCS 200/31.1-5 new

35 ILCS 200/31.1-10 new

 Amends the Property Tax Code. Creates the Site Value Tax Law within the Property Tax Code. Provides that each taxing district may, by ordinance, levy a site value tax upon the assessed value of land within the taxing district. Provides that "assessed value" means 33 1/3% of the fair cash value of the land, without regard to buildings, structures, improvements, or other permanent fixtures on the land, except for the value of oil, gas, coal, and other minerals in the land and the right to remove such oil, gas, coal, and other minerals from the land. Contains provisions concerning enforcement and collection. Effective immediately.

LRB104 19880 HLH 33330 b

A BILL FOR

SB3938LRB104 19880 HLH 33330 b

1 AN ACT concerning revenue.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Property Tax Code is amended by adding 

5Article 31.1 as follows:

6 (35 ILCS 200/Art. 31.1 heading new)

7Article 31.1. Site Value Tax Law

8 (35 ILCS 200/31.1-1 new)

9 Sec. 31.1-1. Short title. This Article may be cited as the 

10Site Value Tax Law.

11 (35 ILCS 200/31.1-5 new)

12 Sec. 31.1-5. Site value tax authorized. In addition to any 

13other tax authorized under this Code, each taxing district 

14may, by ordinance, levy a site value tax upon the assessed 

15value of land within the taxing district. Taxes under this 

16Article shall be levied uniformly by valuation within the 

17taxing district.

18 As used in this Section, "assessed value" me