House Sponsors: ROSKAM. Senate Sponsors: FAWELL Short description: PROP TX-CHARITABLE EXEMPTION Synopsis of Bill as introduced: Amends the Property Tax Code. Provides that property otherwise qualifying for the exemption for charitable purposes shall not lose the exemption because the legal title is held, in certain circumstances, by a limited liability company whose sole members are the institutions of public charity that actually and exclusively use the property for charitable and beneficient purposes. HOUSE AMENDMENT NO. 1. Requires that the institutions of public charity be qualified under paragraph (3) of Section 501(c) of the Internal Revenue Code. Provides that the property may not be leased or otherwise used with a view to profit. HOUSE AMENDMENT NO. 2. Deletes everything. Amends the Property Tax Code. Provides that property otherwise qualifying for the exemption for charitable purposes shall not lose the exemption because the legal title is held for any assessment year including and subsequent to January 1, 1996 for which an application for exemption has been filed and a decision that has not become final and nonappealable by a limited liability company provided that (i) the company receives a notification from the Internal Revenue Service that it qualifies, (ii) the company's sole members are the institutions of public charity that actually and exclusively use the property for charitable and beneficent purposes, and (iii) the company does not lease the property or otherwise use it with a view to profit. Last action on Bill: PUBLIC ACT.............................. 90-0207 Last action date: 97-07-25 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 2 SENATE - 0 END OF INQUIRY Full Text Bill Status