Bill Text: IL SB2768 | 2011-2012 | 97th General Assembly | Introduced

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

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2013-01-08 - Session Sine Die [SB2768 Detail]

Download: Illinois-2011-SB2768-Introduced.html

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97TH GENERAL ASSEMBLY State of Illinois 2011 and 2012 SB2768 Introduced 1/18/2012, by Sen. John J. Cullerton SYNOPSIS AS INTRODUCED:
35 ILCS 200/15-155
Amends the Property Tax Code. Makes a technical change in a Section concerning port districts.
LRB097 16263 HLH 61416 b
A BILL FOR
SB2768 LRB097 16263 HLH 61416 b
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.)