96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB1549

 

Introduced 2/18/2009, by Rep. Michael J. Madigan - Barbara Flynn Currie - John E. Bradley

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/15-155

    Amends the Property Tax Code. Makes a technical change in a Section concerning port districts.


LRB096 05083 RCE 15149 b

 

 

A BILL FOR

 

HB1549 LRB096 05083 RCE 15149 b

1     AN ACT concerning revenue.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Property Tax Code is amended by changing
5 Section 15-155 as follows:
 
6     (35 ILCS 200/15-155)
7     Sec. 15-155. Port districts. All property belonging to the
8 the Chicago Regional Port District or any other port district
9 created by the legislature of this State is exempt. However, a
10 tax may be levied upon a lessee of such property based on the
11 value of a leasehold estate separate and apart from the fee, or
12 upon improvements constructed and owned by others than the Port
13 District.
14 (Source: Laws 1961, p. 3370; P.A. 88-455.)