House Sponsors: MULLIGAN-MOORE,EUGENE. Senate Sponsors: BUTLER-GEO-KARIS Short description: PROP TX-EXEMPT-RESEARCH INST Synopsis of Bill as introduced: Amends the Property Tax Code. Includes in the list of property granted an exemption based on charitable purposes academic or research institutes that qualify for the charitable purposes exemption under the Internal Revenue Code of 1986 because they operate for the benefit of the public by actually and exclusively performing scientific research and making the result of the research available to the public on a non-discriminatory basis. HOUSE AMENDMENT NO. 1. Deletes reference to: 35 ILCS 200/15-65 Adds reference to: 35 ILCS 200/18-165 Deletes everything. Amends the Property Tax Code. Allows taxing districts to abate any portion of its taxes on an academic or research institute that (i) is an exempt organization under paragraph (3) of Section 501(c) of the Internal Revenue Code, (ii) operates for the benefit of the public by actually and exclusively performing scientific research and making the results of the research available to the interested public on a non-discriminatory basis, and (iii) employs more than 100 employees. Requires the abatement to be for a minimum of 15 years. States that the maximum abatement of all property taxes that the institute receives shall not exceed $5,000,000. Effective immediately. Last action on Bill: PUBLIC ACT.............................. 90-0046 Last action date: 97-07-03 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0 END OF INQUIRY Full Text Bill Status