HB0088 97TH GENERAL ASSEMBLY

LRB097 05173 HLH 45220 b

97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB0088

Introduced 1/12/2011, by Rep. Timothy L. Schmitz

SYNOPSIS AS INTRODUCED:

35 ILCS 200/15-125

Amends the Property Tax Code. Provides a property tax exemption for parking areas owned by any religious institution that meets the qualifications for exemption if the parking area is leased or rented to a municipality for free public parking. Effective immediately.

FISCAL NOTE ACT MAY APPLY

HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning revenue.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Property Tax Code is amended by changing Section 15-125 as follows:

(35 ILCS 200/15-125)

Sec. 15-125. Parking areas.

(a) Parking areas, not leased or used for profit other than those lease or rental agreements subject to subsection (b) of this Section, when used as a part of a use for which an exemption is provided by this Code and owned by any school district, non-profit hospital, school, or religious or charitable institution which meets the qualifications for exemption, are exempt.

(b) Parking areas owned by any religious institution that meets the qualifications for exemption, when leased or rented to a mass transportation entity for the limited free parking of the commuters of the mass transportation entity, are exempt.

(c) Parking areas owned by any religious institution that meets the qualifications for exemption, when leased or rented to a municipality for the purpose of providing free public parking, are exempt.

(Source: P.A. 93-1038, eff. 6-1-05.)

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