96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB5877


 
Introduced 2/10/2010, by Rep. Robert F. Flider
 
SYNOPSIS AS INTRODUCED:
 		





 







35 ILCS 200/15-190 new











     Amends the Property Tax Code.  Provides that, beginning in taxable year 2011,  all property owned by an exempt organization
under Section 501(c) of the Internal Revenue Code or its
successor is exempt
from taxation under the Code when exclusively used for a purpose authorized  to be exempted under the Illinois Constitution.
  















LRB096 19643 HLH 35039 b

















FISCAL NOTE ACT MAY APPLY


HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY
















 


 


A BILL FOR









 




  






HB5877

LRB096 19643 HLH 35039 b





  
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    AN ACT concerning revenue.
  
 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:
  
 
 
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    Section 5. The Property Tax Code is amended  by adding 
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Section 15-190 as follows:
 
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    (35 ILCS 200/15-190 new)
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    Sec. 15-190. Section 501(c) organizations.  Notwithstanding 
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any other provision of law, beginning in taxable year 2011, all 
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property owned by an exempt organization
under Section 501(c) 
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of the Internal Revenue Code or its
successor is exempt
from 
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taxation under this Code when exclusively used for a purpose 
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authorized under Section 6 of Article IX of the Illinois 
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Constitution.