Full Text of HB4470 103rd General Assembly
HB4470 103RD GENERAL ASSEMBLY | | | 103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024 HB4470 Introduced 1/17/2024, by Rep. Janet Yang Rohr SYNOPSIS AS INTRODUCED: | | | Amends the Property Tax Code. Provides that certain property on which a community-integrated living arrangement is located is entitled to a reduction in its equalized assessed value in an amount equal to the product that results when the number of occupants who use the community-integrated living arrangement as a primary residence is multiplied by $2,000. Effective immediately. |
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| 1 | | AN ACT concerning revenue. | 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 adding | 5 | | Section 15-87 as follows: | 6 | | (35 ILCS 200/15-87 new) | 7 | | Sec. 15-87. Community-integrated living arrangements. | 8 | | (a) Beginning in taxable year 2025, property that is used | 9 | | exclusively for the operation of a community-integrated living | 10 | | arrangement is entitled to a reduction in the equalized | 11 | | assessed value of the property as provided in subsection (b). | 12 | | If the community-integrated living arrangement is not operated | 13 | | by a not-for-profit organization, then the reduction under | 14 | | this Section applies only if all of the following conditions | 15 | | are met: | 16 | | (1) the property must be owned by a resident of the | 17 | | community-integrated living arrangement, by a family | 18 | | member of a resident of the community-integrated living | 19 | | arrangement, or by a limited liability company that has a | 20 | | member who is a resident of the community-integrated | 21 | | living arrangement or a family member of a resident of the | 22 | | community-integrated living arrangement; | 23 | | (2) the community-integrated living arrangement must |
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| 1 | | be the principal place of residence of at least one other | 2 | | person who is not a family member of an owner or member | 3 | | described in item (1); | 4 | | (3) the community-integrated living arrangement must | 5 | | be licensed under the Community-Integrated Living | 6 | | Arrangements Licensure and Certification Act; and | 7 | | (4) the owner of the property may not be the owner of | 8 | | any other community-integrated living arrangement. | 9 | | (b) The amount of the reduction shall be the product that | 10 | | results when the number of occupants who use the | 11 | | community-integrated living arrangement as a primary | 12 | | residence, as determined for the month of the taxable year | 13 | | when the community-integrated living arrangement has the | 14 | | largest number of occupants, is multiplied by $2,000. In no | 15 | | event may a reduction under this Section reduce the equalized | 16 | | assessed value of the property to less than zero. | 17 | | (c) Application for the reduction under this Section must | 18 | | be made during the application period in effect for the county | 19 | | in which the property is located. The assessor or chief county | 20 | | assessment officer may determine the eligibility of | 21 | | residential property to receive the reduction by application, | 22 | | visual inspection, questionnaire, or other reasonable methods. | 23 | | (d) As used in this Section: | 24 | | "Community-integrated living arrangement" has the meaning | 25 | | given to that term in Section 3 of the Community-Integrated | 26 | | Living Arrangements Licensure and Certification Act. |
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| 1 | | "Family member" means a spouse, civil union partner, | 2 | | child, stepchild, grandchild, sibling, aunt, uncle, niece, | 3 | | nephew, first cousin, parent, stepparent, or grandparent of a | 4 | | person who is a resident of the community-integrated living | 5 | | arrangement. | 6 | | Section 99. Effective date. This Act takes effect upon | 7 | | becoming law. |
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