70 ILCS 1870/2

(70 ILCS 1870/2) (from Ch. 19, par. 752)

Sec. 2. All property of every kind owned by the Port District shall be exempt from taxation, however, a tax may be levied upon a lessee of the Port District by reason of the value of a leasehold estate separate and apart from the fee simple title, or upon such improvements as are constructed and owned by others than the Port District.

(Source: P.A. 77-82.)