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

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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

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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
AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Property Tax Code is amended by adding
Section 15-190 as follows:
(35 ILCS 200/15-190 new)
Sec. 15-190. Section 501(c) organizations. Notwithstanding
any other provision of law, 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 this Code when exclusively used for a purpose
authorized under Section 6 of Article IX of the Illinois
Constitution.