Office of the City Clerk - Record #: SO2015-6461

• Record #: SO2015-6461
• Type: Ordinance
• Status: Passed
• Intro date: 9/24/2015
• Current Controlling Legislative Body: Committee on Finance
• Final action: 7/20/2016
• Title: Amendment of Municipal Code Chapter 2-32 by adding new Section 2-32-627 entitled "Property Tax Relief Program"
• Sponsors: Moreno, Proco Joe, Moore, Joseph, Dowell, Pat, Solis, Daniel, Pawar, Ameya, Sawyer, Roderick T., Cappleman, James, Santiago, Milagros, Scott, Jr. Michael, Moore, David H., Mitts, Emma, Curtis, Derrick G., Thompson, Patrick D., Ramirez-Rosa, Carlos, Burnett, Jr., Walter, Quinn, Marty, Reboyras, Ariel, Beale, Anthony, Arena, John
• Topic: MUNICIPAL CODE AMENDMENTS - Title 2 - City Government & Administration - Ch. 32 Dept. of Finance
• Related files: O2015-7778

Date	Journal Page Number	Action By	Action	Result
7/20/2016	28065	City Council	Passed as Substitute	Pass
7/19/2016		Committee on Finance	Substituted in Committee	Pass
9/24/2015	8139	City Council	Referred

SUBSTITUTE OR I) I N~A NCE AS AMENDED

BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:


SECTION 1. Chapter 2-32 of the Municipal Code of Chicago is hereby amended by inserting a new Section 2-32-627, as follows:

2-32-627 Property tax relief program.

(a) As used in this section:

"Adjusted Gross Income" or "AGI" means adjusted gross income as defined in the Internal Revenue Code of the United States of America, 26 U.S.C. § 62.

"Applicable year" means tax year 2015.

"Director" means the Director of the Office of Budget and Management of the City of Chicago, or the Director's designee.

"Homeowner" means an individual who, at the time of the application and since January 1, 2014: (i) was the owner of record of, or had a legal or equitable interest in, property in this city that was used by the individual as the individual's principal place of residence; and (ii) was liable for paying the property taxes on the property, either directly or indirectly as the owner of a unit in a residential cooperative or as the owner of a beneficial interest in an Illinois land trust. For purposes of the definition of "homeowner," an equitable interest shall include a beneficial interest in property that is held by the owner of a unit in a residential cooperative or in an Illinois land trust.

"Household" means the homeowner and the spouse or domestic partner of the homeowner.

"Household adjusted gross income" or "HAGI" means the combined adjusted gross income of the household for the applicable year.

"Property taxes" means the taxes on real property for which a homeowner is liable under the Property Tax Code, 35 ILCS 200/1-1 et seq., when that property is used by the homeowner as the homeowner's principal place of residence.

"Property tax increase" means the amount by which the property taxes payable to the City of Chicago in tax year 2015 exceeds the property taxes payable to the City of Chicago in tax year 2014 for the same property.

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10|"Senior homeowner"...