Bill Text: IL HB4110 | 2011-2012 | 97th General Assembly | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
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.
Spectrum: Slight Partisan Bill (Democrat 5-2)
Status: (Passed) 2013-02-01 - Public Act . . . . . . . . . 97-1161 [HB4110 Detail]
Download: Illinois-2011-HB4110-Introduced.html
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.
Spectrum: Slight Partisan Bill (Democrat 5-2)
Status: (Passed) 2013-02-01 - Public Act . . . . . . . . . 97-1161 [HB4110 Detail]
Download: Illinois-2011-HB4110-Introduced.html
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1 | AN ACT concerning revenue.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Property Tax Code is amended by changing | ||||||||||||||||||||||||
5 | Section 15-160 as follows:
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6 | (35 ILCS 200/15-160)
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7 | Sec. 15-160. Airport authorities and airports. | ||||||||||||||||||||||||
8 | (a) All property belonging to any
Airport Authority and | ||||||||||||||||||||||||
9 | used for Airport Authority purposes or leased to another
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10 | entity, which property use would be exempt from taxation under | ||||||||||||||||||||||||
11 | this Code if
it were owned by the lessee entity, is exempt. | ||||||||||||||||||||||||
12 | However, the provision added by
Public Act 86-219 shall not | ||||||||||||||||||||||||
13 | apply to any property of any Airport Authority
located in a | ||||||||||||||||||||||||
14 | county with more than 3,000,000 inhabitants. Property acquired
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15 | for airport purposes by an Authority shall remain subject to | ||||||||||||||||||||||||
16 | any tax previously
levied to pay bonds issued and outstanding | ||||||||||||||||||||||||
17 | on the date of acquisition.
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18 | (b) Also exempt is any airport or restricted land area or | ||||||||||||||||||||||||
19 | other air navigation
facility owned, controlled, operated or | ||||||||||||||||||||||||
20 | leased by another state or a political
subdivision of another | ||||||||||||||||||||||||
21 | state under the provisions of Sections 25.01 to 25.04,
both | ||||||||||||||||||||||||
22 | inclusive, of the "Illinois Aeronautics Act". However if at the | ||||||||||||||||||||||||
23 | time of
the acquisition of property to be used for public |
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1 | airport purposes the city,
village, township or school | ||||||
2 | district, in which said property is located is
indebted for any | ||||||
3 | amount for payment of which it provided for the collection of
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4 | taxes, the property acquired for public airport purposes shall | ||||||
5 | be subject to
taxation for the payment of said indebtedness in | ||||||
6 | the same proportion as said
property bore to the taxable | ||||||
7 | property in said city, village, township or school
district | ||||||
8 | immediately before the acquisition thereof, according to the | ||||||
9 | last
assessment for taxation.
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10 | (c) Also exempt is all property or leasehold interests | ||||||
11 | located on Airport Authority property of a fixed base operator | ||||||
12 | that provides aeronautical services to the public. This | ||||||
13 | subsection applies only to Airport Authority property located | ||||||
14 | within a county that borders a State that provides for property | ||||||
15 | tax exemptions for property located at an airport and leased to | ||||||
16 | a fixed base operator providing aeronautical services to the | ||||||
17 | public. | ||||||
18 | (Source: Laws 1963, p. 1725; P.A. 86-219; 88-455.)
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