Illinois House Bill 5663 (Prior Session Legislation)

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Sponsorship: Partisan Bill (Democrat 1)
Status: Introduced on February 8 2010 - 25% progression, died in committee
Action: 2010-03-15 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Property Tax Code. Provides that property that qualifies for a charitable exemption shall not lose its exemption because the property is owned by a partnership or limited liability company that is organized for the purposes of owning and operating residential rental property if (i) the charitable organization is a general partner of the partnership or a managing member of the limited liability company and (ii) the partnership or limited liability company has received an allocation of Low Income Housing Tax Credits for at least 50% of the dwelling units (instead of 100%). Effective immediately.

PROP TX-HOUSING CREDITS

Rep. Arthur Turner [D]

Date	Chamber	Action
2010-03-15		Rule 19(a) / Re-referred to Rules Committee
2010-02-22		Assigned to Revenue & Finance Committee
2010-02-09		Referred to Rules Committee
2010-02-09		First Reading
2010-02-08		Filed with the Clerk by Rep. Arthur L. Turner

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=5663&GAID=10&DocTypeID=HB&SessionID=76&GA=96
Text	https://www.ilga.gov/legislation/96/HB/09600HB5663.htm