PUGH-SHARP-GILES AND MORROW.
PROP TX-LOW INC HOUSING-DEFINE
Synopsis of Bill as introduced:
Amends the Property Tax Code. Provides that "property" does not
include low income housing federal tax credits. Effective
HOUSE AMENDMENT NO. 1.
Adds reference to:
35 ILCS 200/Art. 10, Div. 11 heading new
35 ILCS 200/10-235 new
Further amends the Property Tax Code. Provides that in determin-
ing the fair cash value of property receiving benefits from the feder-
al Low-Income Housing Tax Credit, emphasis shall be given to the in-
come approach, where appropriate.
SENATE AMENDMENT NO. 1.
Provides that rather than giving emphasis to the income approach
"where appropriate", emphasis shall be given to the income approach
except in those circumstances where another method is clearly more
Last action on Bill: PUBLIC ACT.............................. 91-0502
Last action date: 99-08-13
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 1
END OF INQUIRY
Full Text Bill Status