Illinois § 10-920

Illinois Statutes

§ 10-920

Illinois § 10-920

JurisdictionIllinois

TopicGOVERNMENT

Ch. 35REVENUE

Act 35 ILCS 200/Property Tax Code.

Art.Title 3 - Valuation and Assessment

This text of Illinois § 10-920 is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

35 Ill. Comp. Stat. 10-920 (2026).

Text

(This Section may contain text from a Public Act with a delayed effective date ) Sec. 10-920. Definitions. As used in this Division: "Allowance for physical depreciation" means the product of the quotient that is generated by dividing the actual age in years of the commercial energy storage system on the assessment date by 25 years multiplied by the commercial energy storage system's trended real property cost basis. "Allowance for physical depreciation" may not exceed an amount that reduces the value of the commercial energy storage system to 30% of its trended real property cost basis or less. "Commercial energy storage system" means any device or assembly of devices that is (i) either installed as a stand-alone system or tied to a power generation system, (ii) used for the primary purpo

Free access — add to your briefcase to read the full text and ask questions with AI

(This Section may contain text from a Public Act with a delayed effective date ) Sec. 10-920. Definitions. As used in this Division: "Allowance for physical depreciation" means the product of the quotient that is generated by dividing the actual age in years of the commercial energy storage system on the assessment date by 25 years multiplied by the commercial energy storage system's trended real property cost basis. "Allowance for physical depreciation" may not exceed an amount that reduces the value of the commercial energy storage system to 30% of its trended real property cost basis or less. "Commercial energy storage system" means any device or assembly of devices that is (i) either installed as a stand-alone system or tied to a power generation system, (ii) used for the primary purpose of storing of energy for wholesale or retail sale and not primarily for storage to later consume on the property on which the device resides, and (iii) an energy storage system, as defined in Section 16-135 of the Public Utilities Act. "Commercial energy storage system real property cost basis" means the owner of the commercial energy storage system's interest in the land within the project boundaries and real property improvements and shall be calculated at $65 per kilowatt-hour of rated kilowatt-hour energy capacity. "Consumer Price Index" means the index published by the Bureau of Labor Statistics of the United States Department of Labor that measures the average change in prices of goods and services purchased by all urban consumers, United States city average, all items, 1982-84 = 100. "Rated kWh energy capacity" means the maximum amount of stored energy in kilowatt hours. "Trended real property cost basis" means the commercial energy storage system real property cost basis multiplied by the trending factor. "Trending factor" means the following: (1) for stand-alone commercial energy storage systems, the lesser of 2% or the number generated by dividing the Consumer Price Index published by the Bureau of Labor Statistics in the December immediately preceding the assessment date by the Consumer Price Index published by the Bureau of Labor Statistics in December of 2024; or (2) for commercial energy storage systems tied to a power generation system, a trending factor of 1.00.