(70 ILCS 1825/3.1)
(from Ch. 19, par. 253.1)
It is declared that the main purpose of this Act is to
promote industrial, commercial and transportation activities, thereby
reducing the evils attendant upon unemployment and enhancing the public
health and welfare of this State.
All property of every kind belonging to the Port District shall be
exempt from taxation, provided that taxes may be assessed and levied
upon a lessee of the District by reason of the value of the real estate and
all improvements thereon. All property of the District shall be construed as
constituting public property owned by a municipal corporation and used
exclusively for public purposes within the provisions of Section 15-155 of
the Property Tax Code.
(Source: P.A. 88-670, eff. 12-2-94.)