Comments: IL HB5663 | 2009-2010 | 96th General Assembly
Bill Title: 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.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2010-03-15 - Rule 19(a) / Re-referred to Rules Committee [HB5663 Detail]
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2010-03-15 - Rule 19(a) / Re-referred to Rules Committee [HB5663 Detail]
Text: Latest bill text (Introduced) [HTML]
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