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HB7006 Engrossed |
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LRB093 16598 SJM 42247 b |
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| AN ACT concerning taxes.
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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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| Chicago Regional
Port District or any other port district |
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| created by the General Assembly
legislature of this
State is |
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| exempt. However, a tax may be levied upon a lessee of such |
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| property
based on the value of a leasehold estate separate and |
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| apart from the fee, or
upon improvements constructed and owned |
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| by others than the Port District.
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| (Source: Laws 1961, p. 3370; P.A. 88-455.)
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