Illinois General Assembly - Full Text of SB0414
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Full Text of SB0414  97th General Assembly

SB0414 97TH GENERAL ASSEMBLY


 


 
97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB0414

 

Introduced 2/8/2011, by Sen. John J. Cullerton

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/15-155

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


LRB097 04195 HLH 44234 b

 

 

A BILL FOR

 

SB0414LRB097 04195 HLH 44234 b

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