093_SB1474sam002











                                     LRB093 04111 SJM 14100 a

 1                    AMENDMENT TO SENATE BILL 1474

 2        AMENDMENT NO.     .  Amend Senate Bill 1474, AS  AMENDED,
 3    by  replacing  everything  after the enacting clause with the
 4    following:

 5        "Section 5.  The Property Tax Code is amended by changing
 6    Section 15-95 as follows:

 7        (35 ILCS 200/15-95)
 8        Sec. 15-95.  Housing  authorities;  low-rent  and  public
 9    housing.  All  property  of housing authorities created under
10    the Housing Authorities Act is exempt, if  the  property  and
11    improvements  are used for low rent housing and related uses.
12    In  addition,  residential  rental  units   situated   in   a
13    municipality   with   1,000,000   or  more  inhabitants  that
14    constitute public housing as defined in Section 3(b)  of  the
15    United  States  Housing  Act of 1937, as amended from time to
16    time, and any successor legislation thereto, whether  or  not
17    the  property  of  a  housing authority, subject to a leasing
18    agreement, regulatory and  operating  agreement,  or  similar
19    instrument with a housing authority created under the Housing
20    Authorities  Act are exempt if those residential rental units
21    are used solely for public housing and related uses. However,
22    property or portions thereof intended or used for  stores  or
 
                            -2-      LRB093 04111 SJM 14100 a
 1    other  commercial  purposes  are  not  exempt. Nothing herein
 2    shall exempt property of  housing  authorities  or  any  part
 3    thereof  from  special  assessments  or  special taxation for
 4    local improvements. Nothing contained in this  Section  shall
 5    be   construed   as  limiting  the  power  of  any  political
 6    subdivision of this  State  to  sell  or  furnish  a  housing
 7    authority with water, electricity, gas, or other services and
 8    facilities  under  the  same  basis  that  those services and
 9    facilities   are   rendered   to   others    under    similar
10    circumstances.
11    (Source:  Laws  1959,  p.  1549,  1554,  2219, and 2224; P.A.
12    88-455.)

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