Illinois General Assembly - Bill Status for HB4132

Synopsis As Introduced
Amends the Property Tax Code. In a Section regarding property tax exemptions for charitable purposes, provides that property held by a charitable organization for the purpose of constructing or rehabilitating residences for eventual transfer to qualified low-income families through sale, lease, or contract for deed is exempt from property tax as a charitable purpose. Provides that the exemption commences on the day title to the property is transferred to the organization and continues to the end of the levy year in which the organization transfers title to the property to a qualified low-income family. Effective immediately.

Actions

Date	Chamber	Action
9/7/2023	House	Filed with the Clerk by Rep. Maurice A. West, II
10/18/2023	House	First Reading
10/18/2023	House	Referred to Rules Committee
2/29/2024	House	Assigned to Revenue & Finance Committee
3/8/2024	House	To Revenue - Property Tax Subcommittee
4/5/2024	House	Rule 19(a) / Re-referred to Rules Committee

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