(70 ILCS 1807/15)
Sec. 15.
Property of district; exemption.
All property of every kind
belonging to the Heart of Illinois Regional Port District shall be exempt from
taxation,
provided that a tax may be levied upon
a lessee of the district by reason of the value
of a leasehold estate separate and apart from the fee or upon any improvements
that
are constructed and owned by others than the district.
All property of the Heart of Illinois Regional Port District shall be
construed as
constituting public grounds owned by a municipal corporation and used
exclusively
for public purposes within the tax exemption provisions of Sections 15-10,
15-15, 15-20, 15-30, 15-75, 15-140, 15-155, and 15-160 of the Property Tax
Code.
(Source: P.A. 93-262, eff. 7-22-03.)
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