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| [ Engrossed ] | [ Enrolled ] | [ Senate Amendment 001 ] |
91_HB0371
LRB9101157MWgc
1 AN ACT amending the Property Tax Code by adding Section
2 15-143.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Property Tax Code is amended by adding
6 Section 15-143 as follows:
7 (35 ILCS 200/15-143 new)
8 Sec. 15-143. Metropolitan Water Reclamation Districts in
9 counties with a population greater than 3,000,000.
10 (a) All property owned by metropolitan water reclamation
11 districts in counties with a population greater than
12 3,000,000 is exempt. Any such property leased to an entity
13 that is not exempt shall remain exempt, and the leasehold
14 interest of the lessee shall be assessed under Section 9-195
15 of this Code.
16 (b) If property was leased by the district prior to the
17 effective date of this amendatory Act of 1999 to an entity
18 that was not exempt and the property has been restored to the
19 possession and use of the district for a period of at least 6
20 months, then any lien for unpaid real estate taxes against
21 the property and any obligation on the part of the district
22 to pay those real estate taxes is discharged and
23 extinguished.
24 Section 99. Effective date. This Act takes effect upon
25 becoming law.