HB7352 93RD GENERAL ASSEMBLY

LRB093 23531 BDD 53526 b

93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB7352

Introduced 11/09/04, by Rep. Jim Watson

SYNOPSIS AS INTRODUCED:

35 ILCS 200/15-140

Amends the Property Tax Code. Provides that all property belonging to any water co-operative organized or existing under the Co-operative Act is exempt from taxation under the Property Tax Code.

FISCAL NOTE ACT MAY APPLY

HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

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 15-140 as follows:

(35 ILCS 200/15-140)

Sec. 15-140. Public water districts, water co-operatives, and water and drainage works. All property belonging to any public water district organized or existing under the Public Water District Act or belonging to any water co-operative organized or existing under the Co-operative Act is exempt, as is all property belonging exclusively to any incorporated town, village or city, and used exclusively for conveying water to the incorporated town, village or city, and all property of drainage districts, when used exclusively for pumping water from the ditches and drains of the district for drainage purposes.

(Source: Laws 1967, p. 4030; P.A. 88-455.)