093_SB1474eng SB1474 Engrossed LRB093 04111 SJM 04151 b 1 AN ACT concerning taxes. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Property Tax Code is amended by changing 5 Section 15-95 as follows: 6 (35 ILCS 200/15-95) 7 Sec. 15-95. Housing authorities; low-rent and public 8 housing. All property of housing authorities created under 9 the Housing Authorities Act is exempt, if the property and 10 improvements are used for low rent housing and related uses. 11 In addition, residential rental units situated in a 12 municipality with 1,000,000 or more inhabitants that 13 constitute public housing as defined in Section 3(b) of the 14 United States Housing Act of 1937, as amended from time to 15 time, and any successor legislation thereto, whether or not 16 the property of a housing authority, subject to a leasing 17 agreement, regulatory and operating agreement, or similar 18 instrument with a housing authority created under the Housing 19 Authorities Act are exempt if those residential rental units 20 are used solely for public housing and related uses. However, 21 property or portions thereof intended or used for stores or 22 other commercial purposes are not exempt. Nothing herein 23 shall exempt property of housing authorities or any part 24 thereof from special assessments or special taxation for 25 local improvements. Nothing contained in this Section shall 26 be construed as limiting the power of any political 27 subdivision of this State to sell or furnish a housing 28 authority with water, electricity, gas, or other services and 29 facilities under the same basis that those services and 30 facilities are rendered to others under similar 31 circumstances. SB1474 Engrossed -2- LRB093 04111 SJM 04151 b 1 (Source: Laws 1959, p. 1549, 1554, 2219, and 2224; P.A. 2 88-455.) 3 Section 99. Effective date. This Act takes effect upon 4 becoming law.