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Public Act 92-0621
HB3775 Enrolled LRB9212638SMdv
AN ACT concerning taxes.
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 changing
Section 18-177 as follows:
(35 ILCS 200/18-177)
Sec. 18-177. Leased low-rent housing abatement. In
counties of 3,000,000 or more inhabitants, the county clerk
shall abate property taxes levied by any taxing district
under this Code on property that meets the following
requirements:
(1) Does not qualify as exempt property under
Section 15-95 of this Code.
(2) Is situated in a municipality with 1,000,000 or
more inhabitants and improved with either a multifamily
dwelling or a multi-building development that is subject
to a leasing agreement, regulatory and operating
agreement, or other similar instrument with a Housing
Authority created under the Housing Authorities Act that
sets forth the terms for leasing low-rent housing.
(3) consisting of 6 units or more that is leased
For a period of not less than 20 years to a housing
authority created under the Housing Authorities Act; but
only if the property and improvements, or the property
and improvements for which the abatement is sought, are
used solely for low-rent housing and related uses by the
housing authority as prescribed in a written lease
agreement.
Property and portions of property used or intended to be
used for commercial purposes are not eligible for the
abatement provided in this Section. A The housing authority
created under the Housing Authorities Act shall file annually
with the county clerk for any property eligible for an
abatement under this Section, on a form prescribed by the
county clerk, a certificate of the property's use during the
immediately preceding year. The certificate shall certify
that the property or a portion of the property meets the
requirements of this Section and that the eligible
residential units have been inspected within the previous 90
60 days and meet or exceed all housing quality standards of
the authority. If only a portion of the property meets these
requirements, the certificate shall state the amount of that
portion as a percentage of the total equalized and assessed
value of the property. If the property is improved with an
eligible multifamily dwelling or multi-building development
containing residential units that are individually assessed,
no more than 40% one-third of those residential units may be
certified. If the property is improved with an eligible
multifamily dwelling or multi-building development containing
residential units that are not individually assessed, the
portion of the property certified shall represent no more
than 40% one-third of those residential units. The county
clerk shall abate the taxes only if a certificate of use has
been timely filed for that year. If only a portion of the
property has been certified as eligible, the county clerk
shall abate the taxes in the percentage so certified.
Whenever a housing authority is the lessee of property
receives that is eligible for an abatement under this
Section, the rental rate set under the lease, regulatory and
operating agreement, or other similar instrument for that
property shall not include property taxes reflect a reduction
in payments due under the lease from the housing authority in
the full amount of the abatement. No property shall be
eligible for abatement under this Section if the owner of the
property has any outstanding and overdue debts to the
municipality in which the property is situated.
(Source: P.A. 90-767, eff. 1-1-99.)
Section 99. Effective date. This Act takes effect upon
becoming law.
Passed in the General Assembly April 24, 2002.
Approved July 11, 2002.
Effective July 11, 2002.
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