HB0503ham002 97TH GENERAL ASSEMBLY

Rep. Anthony DeLuca

Filed: 4/11/2011

09700HB0503ham002 LRB097 03320 HLH 54216 a

AMENDMENT TO HOUSE BILL 503

AMENDMENT NO. ______. Amend House Bill 503 by replacing everything after the enacting clause with the following:

"Section 5. The Property Tax Code is amended by changing Section 9-195 and by adding Section 15-161 as follows:

(35 ILCS 200/9-195)

Sec. 9-195. Leasing of exempt property.

(a) Except as provided in Sections 15-35, 15-55, 15-60, 15-100, 15-103, 15-161, and 15-185, when property which is exempt from taxation is leased to another whose property is not exempt, and the leasing of which does not make the property taxable, the leasehold estate and the appurtenances shall be listed as the property of the lessee thereof, or his or her assignee. Taxes on that property shall be collected in the same manner as on property that is not exempt, and the lessee shall be liable for those taxes. However, no tax lien shall attach to the exempt real estate. The changes made by this amendatory Act of 1997 and by this amendatory Act of the 91st General Assembly are declaratory of existing law and shall not be construed as a new enactment. The changes made by Public Acts 88-221 and 88-420 that are incorporated into this Section by this amendatory Act of 1993 are declarative of existing law and are not a new enactment.

(b) The provisions of this Section regarding taxation of leasehold interests in exempt property do not apply to any leasehold interest created pursuant to any transaction described in subsection (e) of Section 15-35, subsection (c-5) of Section 15-60, subsection (b) of Section 15-100, Section 15-103, or Section 15-185.

(Source: P.A. 92-844, eff. 8-23-02; 92-846, eff. 8-23-02; 93-19, eff. 6-20-03.)

(35 ILCS 200/15-161 new)

Sec. 15-161. Municipal airports and leased property at municipal airports. Beginning in tax year 2010, all property of a municipal airport belonging to a single municipality with less than 50,000 inhabitants in a county with more than 3,000,000 inhabitants is exempt from taxation under this Code. Further, beginning in tax year 2010, all property of a municipal airport belonging to a single municipality with less than 50,000 inhabitants in a county with more than 3,000,000 inhabitants that is leased to a public or private entity is exempt from leasehold taxes under this Code.

Section 99. Effective date. This Act takes effect upon becoming law.".