HB4776 98TH GENERAL ASSEMBLY

LRB098 18591 HLH 53732 b

98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB4776

Introduced , by Rep. Linda Chapa LaVia

SYNOPSIS AS INTRODUCED:

35 ILCS 200/15-155

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

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 15-155 as follows:

(35 ILCS 200/15-155)

Sec. 15-155. Port districts. All property belonging to the the Chicago Regional Port District or any other port district created by the legislature of this State is exempt. However, a tax may be levied upon a lessee of such property based on the value of a leasehold estate separate and apart from the fee, or upon improvements constructed and owned by others than the Port District.

(Source: Laws 1961, p. 3370; P.A. 88-455.)