093_SB1474eng
SB1474 Engrossed LRB093 04111 SJM 04151 b
1 AN ACT concerning taxes.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Property Tax Code is amended by changing
5 Section 15-95 as follows:
6 (35 ILCS 200/15-95)
7 Sec. 15-95. Housing authorities; low-rent and public
8 housing. All property of housing authorities created under
9 the Housing Authorities Act is exempt, if the property and
10 improvements are used for low rent housing and related uses.
11 In addition, residential rental units situated in a
12 municipality with 1,000,000 or more inhabitants that
13 constitute public housing as defined in Section 3(b) of the
14 United States Housing Act of 1937, as amended from time to
15 time, and any successor legislation thereto, whether or not
16 the property of a housing authority, subject to a leasing
17 agreement, regulatory and operating agreement, or similar
18 instrument with a housing authority created under the Housing
19 Authorities Act are exempt if those residential rental units
20 are used solely for public housing and related uses. However,
21 property or portions thereof intended or used for stores or
22 other commercial purposes are not exempt. Nothing herein
23 shall exempt property of housing authorities or any part
24 thereof from special assessments or special taxation for
25 local improvements. Nothing contained in this Section shall
26 be construed as limiting the power of any political
27 subdivision of this State to sell or furnish a housing
28 authority with water, electricity, gas, or other services and
29 facilities under the same basis that those services and
30 facilities are rendered to others under similar
31 circumstances.
SB1474 Engrossed -2- LRB093 04111 SJM 04151 b
1 (Source: Laws 1959, p. 1549, 1554, 2219, and 2224; P.A.
2 88-455.)
3 Section 99. Effective date. This Act takes effect upon
4 becoming law.