State of Illinois
90^th General Assembly
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90_HB3575

      35 ILCS 200/15-95
          Amends the Property Tax Code.  Provides that for purposes
      of the exemption provided for housing authorities  under  the
      Code,  privately  owned property or a portion thereof that is
      used for low rent housing  and  related  uses  by  a  housing
      authority,  as  prescribed in a lease agreement in effect for
      at least 20 years between the owner of the property  and  the
      housing  authority,  shall  be deemed property of the housing
      authority for as long as the property or portion  thereof  is
      used  for  low  rent  housing  or related uses by the housing
      authority.  Effective immediately.
                                                     LRB9010916KDks
                                               LRB9010916KDks
 1        AN ACT to amend the Property Tax Code by changing Section
 2    15-95.
 3        Be it enacted by the People of  the  State  of  Illinois,
 4    represented in the General Assembly:
 5        Section  5.  The Property Tax Code is amended by changing
 6    Section 15-95 as follows:
 7        (35 ILCS 200/15-95)
 8        Sec. 15-95.  Housing authorities. All property of housing
 9    authorities created under  the  Housing  Authorities  Act  is
10    exempt,  if  the  property  and improvements are used for low
11    rent housing and related uses.  However, property or portions
12    thereof intended or  used  for  stores  or  other  commercial
13    purposes are not exempt. Nothing herein shall exempt property
14    of  housing  authorities  or  any  part  thereof from special
15    assessments or special taxation for local  improvements.  For
16    purposes  of  the  exemption  contained in this Section only,
17    when privately owned property or a portion  thereof  is  used
18    for low rent housing and related uses by a housing authority,
19    as  prescribed in a lease agreement in effect for at least 20
20    years between the owner  of  the  property  and  the  housing
21    authority, the property or portion thereof shall be deemed to
22    be  property  of  the  housing  authority.   The  property or
23    portion thereof shall be deemed to be property of  a  housing
24    authority  for  only so long as such property is used for low
25    rent housing and related uses by a housing authority. Nothing
26    contained in this Section shall be construed as limiting  the
27    power  of  any political subdivision of this State to sell or
28    furnish a housing authority with water, electricity, gas,  or
29    other services and facilities under the same basis that those
30    services  and facilities are rendered to others under similar
31    circumstances.
                            -2-                LRB9010916KDks
 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.

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