Illinois House Bill 4142 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Bipartisan Bill
Status: Failed on January 8 2013 - 100% progression
Action: 2013-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Property Tax Code. Provides that a Section of the Code concerning exemptions for leaseback property also applies to property that is (i) owned by a private entity and (ii) eligible for a religious or charitable exemption under the Code. Provides that, for purposes of the exemption, the lessee shall be treated as if it were the owner of the property as long as the property is used for school, religious, or charitable purposes. Contains provisions requiring that the funds received from the conveyance of the property must be used for certain purposes. Provides that projects using funds from the sale of certain property that is subject to a leaseback are subject to the provisions of the Illinois Prevailing Wage Act for the initial construction of the improvements and all bidders for those projects shall comply with the Illinois Procurement Code. Effective immediately.

PROP TX-LEASEBACK EXEMPT

Rep. Jehan Gordon-Booth [D]

Rep. David Leitch [R]

Date	Chamber	Action
2013-01-08	House	Session Sine Die
2012-02-21	House	Added Chief Co-Sponsor Rep. David R. Leitch
2012-01-30	House	Referred to Rules Committee
2012-01-30	House	First Reading
2012-01-26	House	Filed with the Clerk by Rep. Jehan A. Gordon

Chapter	Article	Section	Citation Type	Statute Text
35	200	15-185	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4142&GAID=11&DocTypeID=HB&SessionID=84&GA=97
Text	https://www.ilga.gov/legislation/97/HB/09700HB4142.htm