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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:
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Amends the Property Tax Code. Makes a technical change in a Section
concerning port districts.
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A BILL FOR
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HB1549 |
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LRB096 05083 RCE 15149 b |
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| AN ACT concerning revenue.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The Property Tax Code is amended by changing |
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| Section 15-155 as follows:
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| (35 ILCS 200/15-155)
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| Sec. 15-155. Port districts. All property belonging to the
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| the Chicago Regional
Port District or any other port district |
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| created by the legislature of this
State is exempt. However, a |
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| tax may be levied upon a lessee of such property
based on the |
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| value of a leasehold estate separate and apart from the fee, or
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| upon improvements constructed and owned by others than the Port |
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| District. |
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| (Source: Laws 1961, p. 3370; P.A. 88-455.)
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