Illinois HB5201 amends property tax exemption criteria for nonprofit hospitals, focusing on community benefits and charitable activities.
Illinois HB5201 amends the Property Tax Code to redefine criteria for property tax exemptions for nonprofit hospitals. The bill emphasizes community benefits and charitable activities, requiring hospitals to report on services provided to low-income and underserved individuals. It also mandates annual reports on community benefits plans, including charity care and financial assistance. The bill sets quantifiable standards for issuing exemptions, ensuring hospitals meet specific criteria related to community health services and financial support for low-income individuals.
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