HB0163 94TH GENERAL ASSEMBLY

LRB094 05733 BDD 35785 b

94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB0163

Introduced 1/11/2005, by Rep. Jim Watson

SYNOPSIS AS INTRODUCED:

35 ILCS 200/15-140

Amends the Property Tax Code. Provides that all property belonging to any water cooperative organized or existing under the General Not For Profit Corporation Act of 1986 is exempt from taxation under the Property Tax Code.

FISCAL NOTE ACT MAY APPLY

HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning revenue.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Property Tax Code is amended by changing Section 15-140 as follows:

(35 ILCS 200/15-140)

Sec. 15-140. Public water districts, water cooperatives, and water and drainage works. All property belonging to any public water district organized or existing under the Public Water District Act or belonging to any water cooperative organized or existing under the General Not For Profit Corporation Act of 1986 is exempt, as is all property belonging exclusively to any incorporated town, village or city, and used exclusively for conveying water to the incorporated town, village or city, and all property of drainage districts, when used exclusively for pumping water from the ditches and drains of the district for drainage purposes.

(Source: Laws 1967, p. 4030; P.A. 88-455.)