House Sponsors: KRAUSE-HAMOS. Short description: PROPERTY TAX-TECH Synopsis of Bill as introduced: Amends the Property Tax Code. Creates a housing opportunity exemption. Contains a caption only. HOUSE AMENDMENT NO. 1. Deletes reference to: 35 ILCS 200/15-163 new Adds reference to: 35 ILCS 200/15-5 35 ILCS 200/15-181 new 30 ILCS 805/8.26 new Deletes everything after the enacting clause. Amends the Property Tax Code. Creates the Housing Choice Exemption. Provides that the owner of a qualified rental unit located in a qualified area is entitled to an annual Housing Choice Exemption limited to a reduction in the equalized assessed value of the residential rental property of $10,000 per qualified unit (up to 2 per property); however, the total amount of the exemption shall not exceed 20% of the equalized assessed value of the property. Provides that the exemption is available for residential rental units rented to persons holding Section 8 vouchers issued by a housing authority, if the rental unit is located in a designated low-poverty area. Allows municipalities, except for municipalities with 1,000,000 or more inhabitants, to be disqualified from the exemption provisions if the rental patterns in the municipality meet certain requirements. Amends the State Mandates Act to require implementation without reimbursement from the State. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0 END OF INQUIRY Full Text Bill Status