KENNER AND HOWARD.
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.
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
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
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 2
END OF INQUIRY
Full Text Bill Status