Illinois SB0221 amends the Property Tax Code to exempt licensed not-for-profit child care centers from property taxes.

Illinois SB0221 amends the Property Tax Code to provide tax exemptions for property donated, granted, received, or used for licensed not-for-profit child care centers. This exemption applies to property held in trust or absolutely, ensuring these centers are not burdened with property taxes. The bill also outlines conditions under which the exemption may be terminated, such as when the right of the school district to use the property is terminated or if the property is no longer used for educational purposes.

Illinois SB0221 amends the Property Tax Code to exempt licensed not-for-profit child care centers from property taxes.

Illinois SB0221 amends the Property Tax Code to provide tax exemptions for property donated, granted, received, or used for licensed not-for-profit child care centers. This exemption applies to property held in trust or absolutely, ensuring these centers are not burdened with property taxes. The bill also outlines conditions under which the exemption may be terminated, such as when the right of the school district to use the property is terminated or if the property is no longer used for educational purposes.