Bill Text: IL HB5877 | 2009-2010 | 96th General Assembly | Introduced


Bill Title: Amends the Property Tax Code. Provides that, beginning in taxable year 2011, all property owned by an exempt organization under Section 501(c) of the Internal Revenue Code or its successor is exempt from taxation under the Code when exclusively used for a purpose authorized to be exempted under the Illinois Constitution.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2010-03-15 - Rule 19(a) / Re-referred to Rules Committee [HB5877 Detail]

Download: Illinois-2009-HB5877-Introduced.html


96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB5877

Introduced 2/10/2010, by Rep. Robert F. Flider

SYNOPSIS AS INTRODUCED:
35 ILCS 200/15-190 new

Amends the Property Tax Code. Provides that, beginning in taxable year 2011, all property owned by an exempt organization under Section 501(c) of the Internal Revenue Code or its successor is exempt from taxation under the Code when exclusively used for a purpose authorized to be exempted under the Illinois Constitution.
LRB096 19643 HLH 35039 b
FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

A BILL FOR

HB5877 LRB096 19643 HLH 35039 b
1 AN ACT concerning revenue.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Property Tax Code is amended by adding
5 Section 15-190 as follows:
6 (35 ILCS 200/15-190 new)
7 Sec. 15-190. Section 501(c) organizations. Notwithstanding
8 any other provision of law, beginning in taxable year 2011, all
9 property owned by an exempt organization under Section 501(c)
10 of the Internal Revenue Code or its successor is exempt from
11 taxation under this Code when exclusively used for a purpose
12 authorized under Section 6 of Article IX of the Illinois
13 Constitution.
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