90th General Assembly
Summary of HB3575
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House Sponsors:
JONES,LOU-MOORE,EUGENE-JONES,SHIRLEY-MURPHY, 
   KENNER AND HOWARD.

Senate Sponsors:
OBAMA-SMITH

Short description: 
PROP TX-HOUSING AUTH-EXEMPTION                                             

Synopsis of Bill as introduced:
        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.                                                      
          STATE MANDATES FISCAL NOTE                                           
          HB 3575 fails to create a state mandate.                             
          FISCAL NOTE (Dpt. Commerce & Community Affairs)                      
          No fiscal impact on units of local gov't. or DCCA.                   
          HOME RULE NOTE                                                       
          The bill fails to preempt home rule authority.                       
          STATE MANDATES FISCAL NOTE                                           
          No change from previous State mandate note.                          
        HOUSE AMENDMENT NO. 1.                                                 
        Deletes everything.  Amends the Property Tax  Code  by  making  a      
   technical  change to the Section concerning exempt property of housing      
   authorities.                                                                
          STATE MANDATES ACT FISCAL NOTE, H-AM 1                               
          No change from previous mandates note.                               
          HOME RULE NOTE, H-AM 1                                               
          No change from previous home rule note.                              
        SENATE AMENDMENT NO. 1.                                                
          Deletes reference to:                                                
          35 ILCS 200/15-95                                                    
          Adds reference to:                                                   
          35 ILCS 200/18-177 new                                               
        Deletes everything.  Amends the Property Tax Code.  Authorizes an      
   abatement of  taxes  on  property  situated  in  a  municipality  with      
   1,000,000 or more inhabitants, improved with a multi-family dwelling        
   or multi-building development consisting of 6 units or more, and leas-      
   ed for not less than 20 yrs. to a housing authority. Provides that the      
   property  or portion of the property for which the abatement is sought      
   and the improvements must be used  solely  for  low-rent  housing  and      
   related uses by the housing authority.  Provides that the county clerk      
   shall  abate  the  taxes if a certificate of use has been timely filed      
   for that year stating compliance with  the  provision  and  a  housing      
   authority inspection.  Provides that if only a portion of the property      
   has  been  certified  as  eligible for the abatement, the county clerk      
   shall abate the taxes for that portion as a percentage  of  the  total      
   equalized  and  assessed  value  of  the property.  Provides that if a      
   housing authority leases property  eligible  for  the  abatement,  the      
   lease  shall  include  a  reduction in rent for the full amount of the      
   abatement.  Provides that property shall not be eligible for abatement      
   if the owner has outstanding and overdue debts to the municipality  in      
   which the property is situated.  Effective January 1, 1999.                 
        SENATE AMENDMENT NO. 2.                                                
          Provides  that  the  leased  low-rent  housing   abatement   is      
   authorized  only  in  counties  with  3,000,000  or  more inhabitants.      
   Provides that the certificate of use shall be a form prescribed by the      
   county clerk.  Provides that  whenever  the  housing  authority  is  a      
   lessee  of  property  eligible for the abatement, then the lease shall      
   reflect a reduction in lease payments due from the authority.               
 
Last action on Bill: PUBLIC ACT.............................. 90-0767

   Last action date: 98-08-14

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   1     SENATE -   2


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