State of Illinois
91st General Assembly
Legislation

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91_HB0849eng

 
HB0849 Engrossed                               LRB9103681PTpk

 1        AN ACT to amend the Property Tax Code by changing Section
 2    15-155.

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

 5        Section 5.  The Property Tax Code is amended by  changing
 6    Section 15-155 as follows:

 7        (35 ILCS 200/15-155)
 8        Sec.  15-155.   Port districts. All property belonging to
 9    the Chicago Regional Port District or any other port district
10    created by the General Assembly legislature of this State  is
11    exempt.   However,  a tax may be levied upon a lessee of such
12    property based on the value of a  leasehold  estate  separate
13    and  apart from the fee, or upon improvements constructed and
14    owned by others than the Port District.
15    (Source: Laws 1961, p. 3370; P.A. 88-455.)

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