HB1549 96TH GENERAL ASSEMBLY

LRB096 05083 RCE 15149 b

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.

A BILL FOR

AN ACT concerning revenue.

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

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

(35 ILCS 200/15-155)

Sec. 15-155. Port districts. All property belonging to the the Chicago Regional Port District or any other port district created by the legislature of this State is exempt. However, a tax may be levied upon a lessee of such property based on the value of a leasehold estate separate and apart from the fee, or upon improvements constructed and owned by others than the Port District.

(Source: Laws 1961, p. 3370; P.A. 88-455.)