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90_HB2294
35 ILCS 200/15-35
Amends the Property Tax Code. Provides parity among
exempt institutions which lease, as opposed to own, property
used for exempt purposes by extending the exemption granted
to property donated, granted, received, or used for public
school, college, theological, seminary, university, or other
educational purposes regardless of whether the aforesaid own
the underlying fee. Effective January 1, 1998.
LRB9005871KDks
LRB9005871KDks
1 AN ACT to amend the Property Tax Code by changing Section
2 15-35.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Property Tax Code is amended by changing
6 Section 15-35 as follows:
7 (35 ILCS 200/15-35)
8 Sec. 15-35. Schools. All property donated by the United
9 States for school purposes, and all property of schools, not
10 sold or leased or otherwise used with a view to profit, is
11 exempt, whether owned by a resident or non-resident of this
12 State or by a corporation incorporated in any state of the
13 United States. Also exempt is:
14 (a) property of schools which is leased to a
15 municipality to be used for municipal purposes on a
16 not-for-profit basis;,
17 (b) property of schools on which the schools are
18 located and any other property of schools used by the
19 schools exclusively for school purposes, including, but
20 not limited to, student residence halls, dormitories and
21 other housing facilities for students and their spouses
22 and children, staff housing facilities, and school-owned
23 and operated dormitory or residence halls occupied in
24 whole or in part by students who belong to fraternities,
25 sororities, or other campus organizations;.
26 (c) property donated, granted, received or used for
27 public school, college, theological seminary, university,
28 or other educational purposes, regardless of whether the
29 aforesaid own the underlying fee whether held in trust or
30 absolutely; and,
31 (d) in counties with more than 200,000 inhabitants
-2- LRB9005871KDks
1 which classify property, property (including interests in
2 land and other facilities) on or adjacent to (even if
3 separated by a public street, alley, sidewalk, parkway or
4 other public way) the grounds of a school, if that
5 property is used by an academic, research or professional
6 society, institute, association or organization which
7 serves the advancement of learning in a field or fields
8 of study taught by the school and which property is not
9 used with a view to profit.
10 (Source: P.A. 83-1226; 88-455; revised 3-31-97.)
11 Section 99. Effective date. This Act takes effect
12 January 1, 1998.