Rep. Barbara Flynn Currie

Filed: 3/9/2011

 

 


 

 


 
09700HB1926ham001LRB097 07691 HLH 51493 a

1
AMENDMENT TO HOUSE BILL 1926

2    AMENDMENT NO. ______. Amend House Bill 1926 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Property Tax Code is amended by changing
5Section 15-95 as follows:
 
6    (35 ILCS 200/15-95)
7    Sec. 15-95. Housing authorities.
8    (a) All property of housing authorities created under the
9Housing Authorities Act is exempt, if the property and
10improvements are used for low rent housing and related uses.
11However, property or portions thereof intended or used for
12stores or other commercial purposes are not exempt. Nothing
13herein shall exempt property of housing authorities or any part
14thereof from special assessments or special taxation for local
15improvements. Nothing contained in this Section shall be
16construed as limiting the power of any political subdivision of

 

 

09700HB1926ham001- 2 -LRB097 07691 HLH 51493 a

1this State to sell or furnish a housing authority with water,
2electricity, gas, or other services and facilities under the
3same basis that those services and facilities are rendered to
4others under similar circumstances.
5    (b) Property otherwise qualifying for an exemption under
6this Section shall not lose its exemption because the legal
7title is held by either: (i) an entity that is organized as a
8partnership or limited liability company, in which the housing
9authority, or an affiliate or subsidiary of the housing
10authority, is a general partner of the partnership or managing
11member of the limited liability company; or (ii) an entity that
12is organized as a partnership or limited liability company, in
13which the housing authority, or an affiliate or subsidiary of
14the housing authority, is a general partner of the partnership
15or managing member of the limited liability company, for the
16purposes of owning and operating a residential rental property
17that has received an allocation of Low Income Housing Tax
18Credits for 100% of the dwelling units under Section 42 of the
19Internal Revenue Code of 1986, as amended.
20(Source: Laws 1959, p. 1549, 1554, 2219, and 2224; P.A.
2188-455.)
 
22    Section 99. Effective date. This Act takes effect upon
23becoming law.".