|
|
|
|
94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB0776
Introduced 2/1/2005, by Rep. Ed Sullivan, Jr. SYNOPSIS AS INTRODUCED:
|
|
|
|
Amends the Property Tax Code. Makes a technical change in a Section concerning the leasing of exempt property.
|
| |
|
|
|
|
A BILL FOR
|
|
|
|
|
HB0776 |
|
LRB094 07292 BDD 37450 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 9-195 as follows:
|
| 6 |
| (35 ILCS 200/9-195)
|
| 7 |
| Sec. 9-195. Leasing of exempt property.
|
| 8 |
| (a) Except as provided in Sections 15-35, 15-55, 15-60, |
| 9 |
| 15-100,
15-103, and 15-185,
when property which is exempt from |
| 10 |
| taxation is leased to another whose property
is not exempt, and |
| 11 |
| the
the leasing of which does not make the property taxable,
|
| 12 |
| the leasehold estate and the appurtenances shall be listed as |
| 13 |
| the property of
the lessee thereof, or his or her assignee. |
| 14 |
| Taxes on that property shall be
collected in the same manner as |
| 15 |
| on property that is not exempt, and the lessee
shall be liable |
| 16 |
| for those taxes. However, no tax lien shall attach to the
|
| 17 |
| exempt real estate. The changes made by this amendatory Act of |
| 18 |
| 1997 and by this
amendatory Act of the 91st General Assembly |
| 19 |
| are declaratory of existing law
and shall not be construed as a |
| 20 |
| new enactment. The changes made by Public Acts
88-221 and |
| 21 |
| 88-420 that are incorporated into this Section by this |
| 22 |
| amendatory
Act of 1993 are declarative of existing law and are |
| 23 |
| not a new enactment.
|
| 24 |
| (b) The provisions of this Section regarding taxation of |
| 25 |
| leasehold interests
in exempt property do not apply to any |
| 26 |
| leasehold interest created pursuant to
any transaction |
| 27 |
| described in subsection (e) of Section 15-35, subsection (c-5)
|
| 28 |
| of Section 15-60, subsection (b) of Section 15-100, Section |
| 29 |
| 15-103, or
Section 15-185.
|
| 30 |
| (Source: P.A. 92-844, eff. 8-23-02; 92-846, eff.
8-23-02; |
| 31 |
| 93-19, eff. 6-20-03.)
|
Translate
