Except as provided in Section 15-5, Neighborhood Redevelopment Corporations organized under this Act, notwithstanding their function in the Redevelopment of Slum and Blight or Conservation Areas, shall be subject to the same taxation, general and special, as to their assets, tangible and intangible, and as to their capital stock, as is imposed by law upon the assets and capital stock of private corporations for profit organized pursuant to the laws of this State.
315 ILCS 20/15
Taxation of Neighborhood Redevelopment Corporations
Known as the Neighborhood Redevelopment Corporation Law
The act spans §§ 315–315 (57 sections).
P.A. 93-1037, eff. 6-1-05.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.