Bill Text: IL SB1257 | 2019-2020 | 101st General Assembly | Enrolled


Bill Title: Amends the Property Tax Code. In a Section concerning the Senior Citizens Homestead Exemption, provides that in all counties (now, in counties with less than 3,000,000 inhabitants), the county board may by resolution provide that if a person has been granted a senior citizens homestead exemption, the person qualifying need not reapply for the exemption. Provides that the county recorder of deeds shall alert the assessor whenever the transfer of ownership of any property receiving a Senior Citizens Homestead Exemption has occurred. Provides that, if such a transfer occurs, the assessor shall remove the exemption and provide the new property owner with information concerning reapplication. Effective immediately.

Spectrum: Partisan Bill (Democrat 25-0)

Status: (Enrolled) 2019-06-28 - Sent to the Governor [SB1257 Detail]

Download: Illinois-2019-SB1257-Enrolled.html



SB1257 EnrolledLRB101 09340 HLH 54436 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 Illinois Income Tax Act is amended by
5changing Section 205 as follows:
6 (35 ILCS 5/205) (from Ch. 120, par. 2-205)
7 Sec. 205. Exempt organizations.
8 (a) Charitable, etc. organizations. For tax years
9beginning before January 1, 2019, the The base income of an
10organization which is exempt from the federal income tax by
11reason of the Internal Revenue Code shall not be determined
12under section 203 of this Act, but shall be its unrelated
13business taxable income as determined under section 512 of the
14Internal Revenue Code, without any deduction for the tax
15imposed by this Act. The standard exemption provided by section
16204 of this Act shall not be allowed in determining the net
17income of an organization to which this subsection applies.
18 For tax years beginning on or after January 1, 2019, the
19base income of an organization which is exempt from the federal
20income tax by reason of the Internal Revenue Code shall not be
21determined under Section 203 of this Act, but shall be its
22unrelated business taxable income as determined under Section
23512 of the Internal Revenue Code, without regard to Section

SB1257 Enrolled- 2 -LRB101 09340 HLH 54436 b
1512(a)(7) of the Internal Revenue Code and without any
2deduction for the tax imposed by this Act. The standard
3exemption provided by Section 204 of this Act shall not be
4allowed in determining the net income of an organization to
5which this subsection applies. This exclusion is exempt from
6the provisions of Section 250.
7 (b) Partnerships. A partnership as such shall not be
8subject to the tax imposed by subsection 201 (a) and (b) of
9this Act, but shall be subject to the replacement tax imposed
10by subsection 201 (c) and (d) of this Act and shall compute its
11base income as described in subsection (d) of Section 203 of
12this Act. For taxable years ending on or after December 31,
132004, an investment partnership, as defined in Section
141501(a)(11.5) of this Act, shall not be subject to the tax
15imposed by subsections (c) and (d) of Section 201 of this Act.
16A partnership shall file such returns and other information at
17such time and in such manner as may be required under Article 5
18of this Act. The partners in a partnership shall be liable for
19the replacement tax imposed by subsection 201 (c) and (d) of
20this Act on such partnership, to the extent such tax is not
21paid by the partnership, as provided under the laws of Illinois
22governing the liability of partners for the obligations of a
23partnership. Persons carrying on business as partners shall be
24liable for the tax imposed by subsection 201 (a) and (b) of
25this Act only in their separate or individual capacities.
26 (c) Subchapter S corporations. A Subchapter S corporation

SB1257 Enrolled- 3 -LRB101 09340 HLH 54436 b
1shall not be subject to the tax imposed by subsection 201 (a)
2and (b) of this Act but shall be subject to the replacement tax
3imposed by subsection 201 (c) and (d) of this Act and shall
4file such returns and other information at such time and in
5such manner as may be required under Article 5 of this Act.
6 (d) Combat zone, terrorist attack, and certain other
7deaths. An individual relieved from the federal income tax for
8any taxable year by reason of section 692 of the Internal
9Revenue Code shall not be subject to the tax imposed by this
10Act for such taxable year.
11 (e) Certain trusts. A common trust fund described in
12Section 584 of the Internal Revenue Code, and any other trust
13to the extent that the grantor is treated as the owner thereof
14under sections 671 through 678 of the Internal Revenue Code
15shall not be subject to the tax imposed by this Act.
16 (f) Certain business activities. A person not otherwise
17subject to the tax imposed by this Act shall not become subject
18to the tax imposed by this Act by reason of:
19 (1) that person's ownership of tangible personal
20 property located at the premises of a printer in this State
21 with which the person has contracted for printing, or
22 (2) activities of the person's employees or agents
23 located solely at the premises of a printer and related to
24 quality control, distribution, or printing services
25 performed by a printer in the State with which the person
26 has contracted for printing.

SB1257 Enrolled- 4 -LRB101 09340 HLH 54436 b
1 (g) A nonprofit risk organization that holds a certificate
2of authority under Article VIID of the Illinois Insurance Code
3is exempt from the tax imposed under this Act with respect to
4its activities or operations in furtherance of the powers
5conferred upon it under that Article VIID of the Illinois
6Insurance Code.
7(Source: P.A. 97-507, eff. 8-23-11.)
8 Section 99. Effective date. This Act takes effect upon
9becoming law.
feedback