House Sponsors: PUGH-SHARP-GILES AND MORROW. Senate Sponsors: CLAYBORNE-WEAVER,S Short description: 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 immediately. 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 appropriate. Last action on Bill: PUBLIC ACT.............................. 91-0502 Last action date: 99-08-13 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 1 END OF INQUIRY Full Text Bill Status