93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB7352

 

Introduced 11/09/04, by Rep. Jim Watson

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/15-140

    Amends the Property Tax Code. Provides that all property belonging to any water co-operative organized or existing under the Co-operative Act is exempt from taxation under the Property Tax Code.


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FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB7352 LRB093 23531 BDD 53526 b

1     AN ACT concerning revenue.
 
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 15-140 as follows:
 
6     (35 ILCS 200/15-140)
7     Sec. 15-140. Public water districts, water co-operatives,
8 and water and drainage works. All property belonging to any
9 public water district organized or existing under the Public
10 Water District Act or belonging to any water co-operative
11 organized or existing under the Co-operative Act is exempt, as
12 is all property belonging exclusively to any incorporated town,
13 village or city, and used exclusively for conveying water to
14 the incorporated town, village or city, and all property of
15 drainage districts, when used exclusively for pumping water
16 from the ditches and drains of the district for drainage
17 purposes.
18 (Source: Laws 1967, p. 4030; P.A. 88-455.)