Bill Text: IL HB4110 | 2011-2012 | 97th General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Amends the Property Tax Code. Provides that leasehold interests located on Airport Authority property of a fixed base operator providing aeronautical services to the public are exempt if the property is located within a county that borders a State that provides for property tax exemptions for property located at an airport and leased to a fixed base operator providing aeronautical services to the public. [Track Bill]

Status: 2013-02-01 - Public Act . . . . . . . . . 97-1161 [HB4110 Detail]

Download: Illinois-2011-HB4110-Introduced.html

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97TH GENERAL ASSEMBLY State of Illinois 2011 and 2012 HB4110 Introduced , by Rep. Patrick J. Verschoore SYNOPSIS AS INTRODUCED:
35 ILCS 200/15-160
Amends the Property Tax Code. Provides that leasehold interests located on Airport Authority property of a fixed base operator providing aeronautical services to the public are exempt if the property is located within a county that borders a State that provides for property tax exemptions for property located at an airport and leased to a fixed base operator providing aeronautical services to the public.
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FISCAL NOTE ACT MAY APPLY HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY
A BILL FOR
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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 15-160 as follows:
(35 ILCS 200/15-160)
Sec. 15-160. Airport authorities and airports.
(a) All property belonging to any Airport Authority and
used for Airport Authority purposes or leased to another
entity, which property use would be exempt from taxation under
this Code if it were owned by the lessee entity, is exempt.
However, the provision added by Public Act 86-219 shall not
apply to any property of any Airport Authority located in a
county with more than 3,000,000 inhabitants. Property acquired
for airport purposes by an Authority shall remain subject to
any tax previously levied to pay bonds issued and outstanding
on the date of acquisition.
(b) Also exempt is any airport or restricted land area or
other air navigation facility owned, controlled, operated or
leased by another state or a political subdivision of another
state under the provisions of Sections 25.01 to 25.04, both
inclusive, of the "Illinois Aeronautics Act". However if at the
time of the acquisition of property to be used for public

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airport purposes the city, village, township or school
district, in which said property is located is indebted for any
amount for payment of which it provided for the collection of
taxes, the property acquired for public airport purposes shall
be subject to taxation for the payment of said indebtedness in
the same proportion as said property bore to the taxable
property in said city, village, township or school district
immediately before the acquisition thereof, according to the
last assessment for taxation.
(c) Also exempt is all property or leasehold interests
located on Airport Authority property of a fixed base operator
that provides aeronautical services to the public. This
subsection applies only to Airport Authority property located
within a county that borders a State that provides for property
tax exemptions for property located at an airport and leased to
a fixed base operator providing aeronautical services to the
public.
(Source: Laws 1963, p. 1725; P.A. 86-219; 88-455.)