103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB5273

 

Introduced 2/9/2024, by Rep. Stephanie A. Kifowit

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/15-87 new

    Amends the Property Tax Code. Creates a reduction in the equalized assessed value of property containing a qualified nursing home in an amount equal to 50% of the equalized assessed value of the nursing home property. Provides that a qualified nursing home is a facility licensed under the Nursing Home Care Act that is located in a census tract with a median household income of less than 150% of the federal poverty level and that has a resident population that is at least 90% Medicaid eligible. Effective immediately.


LRB103 38024 HLH 68156 b

 

 

A BILL FOR

 

HB5273LRB103 38024 HLH 68156 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Property Tax Code is amended by adding
5Section 15-87 as follows:
 
6    (35 ILCS 200/15-87 new)
7    Sec. 15-87. Nursing home reduced valuation.
8    (a) Notwithstanding any other provision of law, for
9taxable year 2025 and thereafter, property containing a
10qualified nursing home is entitled to a reduction in its
11equalized assessed value equal to 50% of its equalized
12assessed value.
13    (b) Each qualified nursing home applying for a reduction
14under this Section shall apply to the chief county assessment
15officer of the county in which the nursing home is located in
16the form and manner required by the chief county assessment
17officer. The application shall specify the records required in
18support of the application, and those records shall be
19submitted to the chief county assessment officer with the
20application form.
21    (c) As used in this Section, "qualified nursing home"
22means a facility licensed under the Nursing Home Care Act that
23(i) is located in a census tract with a median household income

 

 

HB5273- 2 -LRB103 38024 HLH 68156 b

1of less than 150% of the federal poverty level, as determined
2using the poverty guidelines updated periodically in the
3Federal Register by the United States Department of Health and
4Human Services under the authority of 42 U.S.C. 9902(2), and
5(ii) has a resident population that is at least 90% Medicaid
6eligible.
 
7    Section 99. Effective date. This Act takes effect upon
8becoming law.