IL HB5540 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 9 2024 - 25% progression, died in committee
Action: 2024-02-09 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 9 2024 - 25% progression, died in committee
Action: 2024-02-09 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Property Tax Code. In provisions concerning charitable exemptions granted to limited liability companies, removes a requirement that the limited liability company must be a disregarded entity for federal and Illinois income tax purposes. Effective immediately.
Title
PROP TX-CHARITABLE EXEMPTION
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2024-02-09 | House | Referred to Rules Committee |
| 2024-02-09 | House | First Reading |
| 2024-02-09 | House | Filed with the Clerk by Rep. Anna Moeller |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 35 | 200 | 15-65 | Amended Code | Citation Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=5540&GAID=17&DocTypeID=HB&SessionID=112&GA=103 |
| Text | https://www.ilga.gov/legislation/103/HB/10300HB5540.htm |
