PROP TX-CHARITABLE EXEMPTION

Session: 103rd General Assembly
Year: 2024
Bill #: SB3209
Category: Revenue
Position: No position
Mandate?
Revenue Loss? Yes
Authority Preemption?

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Summary as Introduced

Amends the Property Tax Code. In provisions concerning charitable exemptions granted to limited liability companies, removes a requirement that the limited liability company must be a disregarded entity for federal and Illinois income tax purposes. Effective immediately.



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