Public Act 90-0767 of the 90th General Assembly
Public Act 90-0767
HB3575 Enrolled LRB9010916KDks
AN ACT to amend the Property Tax Code by adding Section
18-177.
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 adding
Section 18-177 as follows:
(35 ILCS 200/18-177 new)
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 situated in a municipality with
1,000,000 or more inhabitants and improved with either a
multifamily dwelling or a multi-building development
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. The
housing authority 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 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 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 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 that is eligible for an abatement
under this Section, the lease shall 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.
Section 99. Effective date. This Act takes effect
January 1, 1999.