PROP TX-WOODED ACREAGE

SB 2320 extends Illinois' special property tax assessment for wooded acreage through December 31, 2029. It applies to landowners who previously qualified for this lower tax rate by having their property classified as farmland in 2006. The bill maintains the current tax calculation method - using a transition percentage based on 2006 values - until 2029. After that date, properties must revert to standard assessment rules unless they continue to meet the wooded acreage criteria.