State of Illinois
91st General Assembly

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[ House Amendment 001 ]



 1        AN ACT to amend the Property Tax Code by changing Section
 2    18-177.

 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 18-177 as follows:

 7        (35 ILCS 200/18-177)
 8        Sec.  18-177.  Leased  low-rent  housing  abatement.   In
 9    counties  of  3,000,000 or more inhabitants, the county clerk
10    shall abate property taxes  levied  by  any  taxing  district
11    under  this  Code on property situated in a municipality with
12    1,000,000 or more inhabitants  and  improved  with  either  a
13    multifamily   dwelling   or   a   multi-building  development
14    consisting of 6 units or more that is leased for a period  of
15    not  less  than 20 years to a housing authority created under
16    the Housing Authorities Act; but only  if  the  property  and
17    improvements,  or the property and improvements for which the
18    abatement is sought, are used solely for low-rent housing and
19    related uses by the housing  authority  as  prescribed  in  a
20    written  lease  agreement.  Property and portions of property
21    used or intended to be used for commercial purposes  are  not
22    eligible  for  the  abatement  provided in this Section.  The
23    housing authority shall file annually with the  county  clerk
24    for  any  property  eligible  for  an  abatement  under  this
25    Section,  on  a  form  prescribed  by  the  county  clerk,  a
26    certificate  of  the  property's  use  during the immediately
27    preceding  year.  The  certificate  shall  certify  that  the
28    property or a portion of the property meets the  requirements
29    of  this Section and that the eligible residential units have
30    been inspected within the previous 60 days and meet or exceed
31    all housing quality standards of the authority.   If  only  a
                            -2-                LRB9110839SMcs
 1    portion   of  the  property  meets  these  requirements,  the
 2    certificate shall state the  amount  of  that  portion  as  a
 3    percentage  of  the total equalized and assessed value of the
 4    property.  If the  property  is  improved  with  an  eligible
 5    multifamily dwelling or multi-building development containing
 6    residential  units  that  are  individually assessed, no more
 7    than one-third of those residential units may  be  certified.
 8    If  the  property  is  improved  with an eligible multifamily
 9    dwelling or multi-building development containing residential
10    units that are not individually assessed, the portion of  the
11    property  certified shall represent no more than one-third of
12    those residential units.  The county clerk  shall  abate  the
13    taxes  only if a certificate of use has been timely filed for
14    that year.  If only  a  portion  of  the  property  has  been
15    certified as eligible, the county clerk shall abate the taxes
16    in the percentage so certified.  Whenever a housing authority
17    is  the  lessee of property that is eligible for an abatement
18    under this Section, the lease shall reflect  a  reduction  in
19    payments  due  under  the lease from the housing authority in
20    the full amount of  the  abatement.   No  property  shall  be
21    eligible for abatement under this Section if the owner of the
22    property  has  any  outstanding  and  overdue  debts  to  the
23    municipality in which the property is situated.
24    (Source: P.A. 90-767, eff. 1-1-99.)

25        Section  99.  Effective date.  This Act takes effect upon
26    becoming law.

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