HB7006 Engrossed LRB093 16598 SJM 42247 b

1     AN ACT concerning taxes.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Property Tax Code is amended by changing
5 Section 15-155 as follows:
 
6     (35 ILCS 200/15-155)
7     Sec. 15-155. Port districts. All property belonging to the
8 Chicago Regional Port District or any other port district
9 created by the General Assembly legislature of this State is
10 exempt. However, a tax may be levied upon a lessee of such
11 property based on the value of a leasehold estate separate and
12 apart from the fee, or upon improvements constructed and owned
13 by others than the Port District.
14 (Source: Laws 1961, p. 3370; P.A. 88-455.)