Bill Text: IL SB3369 | 2009-2010 | 96th General Assembly | Introduced

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Bill Title: Amends the Property Tax Code. Provides that the corporate authorities of a home rule municipality with less than 1,000,000 inhabitants, or the governing body of any taxing district located in whole or in part within a home rule municipality with less than 1,000,000 inhabitants, may abate all or a portion of the property taxes levied on each parcel of residential property that is owned by a person participating in a qualified low-income homeownership program. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2010-03-08 - Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments [SB3369 Detail]

Download: Illinois-2009-SB3369-Introduced.html

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96TH GENERAL ASSEMBLY State of Illinois 2009 and 2010 SB3369 Introduced 2/10/2010, by Sen. Mike Jacobs SYNOPSIS AS INTRODUCED:
35 ILCS 200/18-185.10 new
Amends the Property Tax Code. Provides that the corporate authorities of a home rule municipality with less than 1,000,000 inhabitants, or the governing body of any taxing district located in whole or in part within a home rule municipality with less than 1,000,000 inhabitants, may abate all or a portion of the property taxes levied on each parcel of residential property that is owned by a person participating in a qualified low-income homeownership program. Effective immediately.
LRB096 20566 HLH 36256 b
FISCAL NOTE ACT MAY APPLY HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY
A BILL FOR
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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 18-185.10 as follows:
(35 ILCS 200/18-185.10 new)
Sec. 18-185.10. Abatement for residence of a person
participating in a low-income homeownership program.
(a) The corporate authorities of a home rule municipality
with less than 1,000,000 inhabitants, or the governing body of
any taxing district located in whole or in part within a home
rule municipality with less than 1,000,000 inhabitants may,
upon a majority vote of the governing body, order the county
clerk to abate any percentage of the taxes levied by the
municipality or taxing district on each parcel of qualified
residential property that is (i) located within the corporate
limits of the municipality and (ii) owned by a person
participating in a qualified low-income homeownership program.
(b) As used in this Section, "qualified low-income
homeownership program" means a program administered by a
municipality or housing authority to assist low-income persons
in purchasing their own homes.
(c) The corporate authorities may provide, by law, for the

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amount and duration of an abatement under this Section and for
any other provision necessary to carry out the provisions of
this Section.
Section 99. Effective date. This Act takes effect upon
becoming law.