Rep. Barbara Flynn Currie
Filed: 3/9/2011
 
 

 

 

 
09700HB1926ham001LRB097 07691 HLH 51493 a



1
AMENDMENT TO HOUSE BILL 1926 




2    AMENDMENT NO. ______. Amend House Bill 1926 by replacing 
3everything after the enacting clause with the following:

 
4    "Section 5. The Property Tax Code is amended  by changing 
5Section 15-95 as follows:
 



6    (35 ILCS 200/15-95)



7    Sec. 15-95. Housing authorities.  
8    (a) All property of housing authorities created
under the 
9Housing Authorities Act is exempt, if the property and 
10improvements
are used for low rent housing and related uses.  
11However, property or portions
thereof intended or used for 
12stores or other commercial purposes are not
exempt. Nothing 
13herein shall exempt property of housing authorities or any part

14thereof from special assessments or special taxation for local 
15improvements.
Nothing contained in this Section shall be 
16construed as limiting the power of
any political subdivision of 
 
 
09700HB1926ham001- 2 -LRB097 07691 HLH 51493 a

1this State to sell or furnish a housing authority
with water, 
2electricity, gas, or other services and facilities under the 
3same
basis that those services and facilities are rendered to 
4others under similar
circumstances.

5    (b) Property otherwise qualifying for an exemption under 
6this Section shall not lose its exemption because the legal 
7title is held by either: (i) an entity that is organized as a 
8partnership or limited liability company, in which the housing 
9authority, or an affiliate or subsidiary of the housing 
10authority, is a general partner of the partnership or managing 
11member of the limited liability company; or (ii) an entity that 
12is organized as a partnership or limited liability company, in 
13which the housing authority, or an affiliate or subsidiary of 
14the housing authority, is a general partner of the partnership 
15or managing member of the limited liability company, for the 
16purposes of owning and operating a residential rental property 
17that has received an allocation of Low Income Housing Tax 
18Credits for 100% of the dwelling units under Section 42 of the 
19Internal Revenue Code of 1986, as amended. 
20(Source: Laws 1959, p. 1549, 1554, 2219, and 2224; P.A. 
2188-455.)


 
22    Section 99. Effective date. This Act takes effect upon 
23becoming law.".